This Week In Cannabis: Paraguay Nears Adult-Use Sales, JPMorgan Hints At Banking And More On Earnings, NHL, Tyson, STIIIZY, Germany

The cannabis industry had a busy week, with major policy developments, business expansions and market shakeups. Paraguay is on the verge of legalizing adult-use cannabis sales, while Germany’s medical cannabis sector is experiencing record growth. Meanwhile, Florida’s legalization advocates are making another push for adult-use reform and JPMorgan Chase CEO Jamie Dimon signaled potential banking support for the cannabis industry—if federal law allows it.

In the business world, STIIIZY, one of the U.S.’s top-selling cannabis brands, announced its expansion into New York, marking a milestone in its bi-coastal presence. Major financial updates came from High Tide, C21 Investments and Simply Solventless Concentrates, with earnings reports reflecting shifting market conditions. Additionally, Bright Green Corporation filed for Chapter 11 bankruptcy, while Body and Mind Inc. exited the Illinois market in a $5 million asset sale.

The sports world saw a growing cultural shift, as an increasing number of NHL players opted for cannabis edibles over alcohol. Meanwhile, a landmark study published in JAMA Network Open linked cannabis use to potential working memory impairment, adding another layer to the ongoing discussion about cannabis and cognitive health.

From regulatory advancements to corporate restructuring and investment strategies, here’s everything you need to know about the latest in cannabis.

In Today’s Recap

Politics and Regulation

• Paraguay Moves Toward Adult-Use Cannabis Legalization
• Florida’s Cannabis Advocates Relaunch Legalization Push
• JPMorgan Chase CEO Signals Openness to Cannabis Banking

Markets and Investments

• Germany’s Medical Cannabis Market Sees Record Growth
• New York’s Cannabis Tax Revenue Expected to Quadruple
• Amplify ETFs Overhauls Cannabis Investment Strategy
• Bright Green Corporation Files for Chapter 11 Bankruptcy
• Body and Mind Inc. Exits Illinois with $5M Asset Sale
• Simply Solventless Concentrates Raises $5M for Expansion
• High Tide Inc. Reports Q4 Revenue Beat, Expands Membership Programs
• C21 Investments Reports Q3 Growth in Nevada

Science and Health

• Study Links Frequent Cannabis Use to Memory Impairment
• Potential for Cognitive Recovery in Cannabis Users

Industry and Culture

• STIIIZY Expands into New York with Exclusive Strains
• Mike Tyson’s TYSON 2.0 Expands to South Africa
• NHL Players Increasingly Opt for Cannabis Over Alcohol

Politics And Regulation

Paraguay On The Verge of Adult-Use Cannabis Legalization?

Paraguay could soon take a historic step toward adult-use cannabis reform, potentially becoming the first South American country to allow regulated dispensary sales—unlike Uruguay, which only permits sales through pharmacies and clubs. According to exclusive information procured by media outlet El Planteo, the Paraguayan Senate is expected to vote in March on a proposal that would expand the existing legal framework to include regulated dispensary sales. The reform would integrate oversight from the National Directorate of Health Surveillance and Narcotics, as well as the National Directorate of Tax Revenue (DENIT).

“In March, the Paraguayan Senate will vote on expanding the current legal framework, allowing the commercialization of adult-use cannabis in authorized dispensaries under the supervision of the National Directorate of Health Surveillance and Narcotics,” said Marcelo Demp, president of the Paraguayan Chamber of Industrial Cannabis (CCIP). “This new scheme will also integrate DENIT, the National Directorate of Tax Revenue, to ensure proper tax regulation.”

The proposal aims to attract cannabis tourism from Brazil, where possession of up to 40 grams has been decriminalized. While current Brazilian laws prohibit cross-border cannabis transportation, Demp believes this could change:

“Brazilians can transport up to 40 grams, and in Paraguay, legal purchases may soon be possible. It is not yet permitted to transport cannabis to Brazil, but after the potential March reform, we estimate it will be legal to transport cannabis from Paraguay to Brazil as long as the 40-gram per adult limit is respected.”

Beyond tourism, the reform could boost Paraguay’s legal cultivation industry, with farmers receiving $25,000 per hectare of regulated crops, feeding into authorized processing factories and dispensaries.

Florida’s Cannabis Advocates Relaunch Legalization Push

After failing to pass the 60% voter threshold in 2024, Florida cannabis activists are back with a revamped ballot initiative for 2026. The new proposal directly addresses criticisms of the previous measure by explicitly banning public consumption, tightening child safety regulations, and lowering possession limits from three to two ounces.

One of the most significant changes removes the vertical integration requirement, which previously favored large cannabis operators. If passed, this could open Florida’s market to smaller businesses and independent dispensaries, increasing competition. However, the final structure of licensing and business participation will depend on future regulations, which could still impose barriers to entry.

JPMorgan Chase CEO Signals Openness To Cannabis Banking

JPMorgan Chase JPM CEO Jamie Dimon made headlines by hinting at future banking services for cannabis companies, provided federal legalization moves forward.

“We don’t bank marijuana companies because there’s no federal law around it… If there’s a federal law, we probably would,” Dimon said on a recent podcast.

His comments come as the SAFE Banking Act remains stalled in Congress, leaving legal cannabis businesses struggling with limited access to financial services. The industry continues to advocate for federal reform, which could unlock billions in cannabis deposits for major financial institutions.

Markets And Investments

Germany’s Medical Cannabis Market Sees Unprecedented Growth

Bloomwell GmbH reported record-breaking expansion in Germany’s medical cannabis market in 2024, driven by price reductions and increased patient access. Medical cannabis prices dropped to as low as €3.99 ($4.16) per gram, leading to a 1,000% surge in prescriptions by December.

“Accessible cannabis therapy offers significant public health benefits,” said Dr. Julian Wichmann, CEO of Bloomwell GmbH. Digital telemedicine platforms have played a crucial role in expanding access, streamlining prescriptions, and facilitating patient care.

The growth positions Germany as a model for medical cannabis regulation in Europe, potentially influencing policy shifts in other countries looking to expand patient access and reduce costs.

New York’s Cannabis Tax Revenue Expected To Quadruple

New York’s legal cannabis market is projected to generate $161.8 million in tax revenue by the end of March—four times the amount collected last year, reported Cultivated News. Governor Kathy Hochul attributed the growth to increased dispensary openings and a crackdown on illicit operators.

However, concerns remain that medical cannabis patients are being left behind as the adult-use market expands. The New York Medical Cannabis Industry Association has petitioned lawmakers, calling for reforms to protect patient access and ensure affordability in the state’s rapidly evolving cannabis landscape.

Amplify ETFs Overhauls Cannabis Investment Strategy

Amplify ETFs announced a strategic shift in its cannabis investment funds, aiming to provide greater exposure to U.S. cannabis companies.

• The Amplify Seymour Cannabis ETF CNBS will now focus exclusively on U.S. cannabis firms.
• The Amplify Alternative Harvest ETF MJ will allocate funds to CNBS, ensuring exposure to the growing U.S. market.

“We recognized an exceptional opportunity to leverage the expertise of Tim Seymour to enhance our offerings,” said Christian Magoon, CEO of Amplify ETFs.

With federal rescheduling and potential banking reforms on the horizon, the move positions Amplify’s ETFs to capitalize on future regulatory shifts in the cannabis industry.

Bright Green Corporation Files For Chapter 11 Bankruptcy

Bright Green Corporation BGXX announced a prepackaged Chapter 11 bankruptcy plan, backed by its majority shareholder, Lynn Stockwell. The company aims to restructure operations and seek federal loan guarantees to fund a $3.5 billion expansion into DEA- and FDA-compliant mega farms.

“Bright Green was in a unique position to produce and research controlled substances but faced financial setbacks due to globalization policies and funding restrictions,” said Stockwell, who will lead the restructuring effort.

If the restructuring plan is approved by the bankruptcy court, Bright Green intends to issue new common stock, settle creditor claims and rebrand as ‘Drugs Made in America Corp.’ as it pivots toward pharmaceutical cannabis production.

Body And Mind Inc. Exits Illinois With $5M Asset Sale

Body and Mind Inc. BMMJ announced the sale of its Illinois assets to Dutchess Cannabis for $5 million, exiting the state’s competitive cannabis market.

“Going it alone in Illinois would likely create less value than selling our assets to an established operator,” said Michael Mills, CEO of Body and Mind Inc.

The company will use the proceeds to strengthen its balance sheet and fund its New Jersey dispensary construction, while Dutchess Cannabis expands its footprint in Markham and Lynwood, Illinois.

Simply Solventless Concentrates Raises $5M For Expansion

Simply Solventless Concentrates SSLCF launched a $5 million private placement financing, securing a $3 million lead order from institutional investor Plaza Capital.

The capital will fund:

• The acquisition of Delta 9 Bio-Tech Inc.
• The launch of 25 new cannabis products under brands like Astrolab, Frootyhooty, Lamplighter, and Zest in Alberta and Ontario.

“We structured this financing to limit dilution and maximize earnings per share,” said Jeff Swainson, CEO of Simply Solventless Concentrates.

The company reported record January revenue of $4.5 million, reflecting strong demand for its premium solventless cannabis products.

High Tide Inc. Posts Q4 Revenue Beat, Expands Membership Programs

High Tide Inc. HITI reported fourth-quarter revenue of CAD $138.3 million ($95.9M USD), beating analyst estimates but missing earnings expectations.

Key highlights:

• Cabana Club membership surpassed 1.72 million, up 34% year-over-year.
• ELITE memberships surged 161% year-over-year, reaching 73,000 members.
• Same-store sales increased 0.4% year-over-year.
• Free cash flow for the quarter totaled CAD $5.9 million ($4.1M USD).

“We continue to see accelerating membership growth, reinforcing our ability to connect with and serve customers,” said Raj Grover, CEO of High Tide Inc.

Beacon Research reiterated a Buy rating and a 12-month price target of $6.25 on High Tide’s stock, citing its strong customer loyalty programs and continued revenue expansion.

C21 Investments Reports Q3 Growth In Nevada

C21 Investments CXXIF released its Q3 earnings, highlighting strong retail performance despite statewide cannabis sales declining 4%.

Key financials:

• Revenue: $7.9 million, up 5.3% quarter-over-quarter.
• Gross margin: 46%, up 250 basis points from Q2.
• Income from operations: $1 million, up 219% from Q2.
• Adjusted EBITDA: $1.6 million, up 21% quarter-over-quarter.

“Our strategy continues to deliver strong results, with retail sales up 7% quarter-over-quarter and 22% over the past two quarters,” said Sonny Newman, CEO of C21 Investments.

The company announced a normal course issuer bid, allowing it to repurchase up to 5% of its common shares, signaling confidence in future earnings growth.

Science And Health

Landmark Study Links Cannabis Use to Memory Impairment

A new study published in JAMA Network Open suggests that frequent cannabis use may impair working memory. Researchers examined 1,000 young adults aged 22 to 36 and found that 63% of heavy lifetime users and 68% of recent users exhibited reduced brain activity in key memory-related regions.

“As cannabis use continues to grow globally, studying its effects on human health has become increasingly important,” said Dr. Joshua Gowin, assistant professor of radiology at the University of Colorado School of Medicine.

Participants were divided into three groups based on usage:

• Heavy users (more than 1,000 lifetime uses).
• Moderate users (10–999 lifetime uses).
• Non-users (fewer than 10 lifetime uses).

Brain imaging scans showed significant reductions in activity in regions responsible for working memory, decision-making, and emotional regulation, including the dorsolateral prefrontal cortex, dorsomedial prefrontal cortex, and anterior insula.

“We applied the highest standards to our research, setting rigorous thresholds for statistical significance across all seven cognitive function tests,” Gowin noted. “While some of the other tasks indicated potential cognitive impairment, only the working memory task showed a statistically significant impact.”

Potential For Cognitive Recovery

The study suggests that abstaining from cannabis before engaging in cognitive tasks may help improve function, but Dr. Gowin warned against abrupt cessation.

“People need to be aware of their relationship with cannabis since stopping cold turkey could disrupt their cognition,” he said. “For example, heavy users may need to be more cautious.”

Further research is needed to determine whether cannabis directly alters brain function over the long term and how different age groups are affected.

Industry And Culture

STIIIZY Expands Into New York

STIIIZY, one of the best-selling cannabis lifestyle brands in the U.S., announced its official expansion into New York. Starting February 7, consumers 21+ will be able to purchase STIIIZY products at select retailers across the state, with a strong presence in New York City and surrounding areas.

“STIIIZY fans asked us to come to New York, and we heard them loud and clear,” said James Kim, co-founder and CEO. “New York has a vibrant community of cannabis enthusiasts who are loyal to brands and engaged in the culture—a passion we share at STIIIZY. We look forward to seeing our premium products—including our new strains exclusive to New York—featured on dispensary menus statewide.”

As part of its New York launch, the company has created an exclusive strain, New York Diesel, which will be available only in select retail locations across the state.

This marks the seventh state in which STIIIZY products are sold, joining California, Nevada, Illinois, Michigan, Arizona and Missouri. The move strengthens its bi-coastal presence, reinforcing its position as one of the fastest-growing cannabis brands in the U.S.

Mike Tyson’s TYSON 2.0 Expands to South Africa

TYSON 2.0, the premium cannabis brand co-founded by Mike Tyson, has officially launched in South Africa through a partnership with Tyson SA LLC.

“We’re bringing high-quality cannabis products to a market that appreciates excellence,” said Tyson.

The expansion will introduce South African consumers to TYSON 2.0’s most popular products, including flower, pre-rolls, vapes, and the infamous Mike Bites edibles. The brand’s retail debut will take place at the Tyson Coffee Shop in Cape Town, with a launch event scheduled for January 31 featuring promotions, giveaways and product tastings.

TYSON 2.0’s entry into South Africa is part of a broader strategy by its parent company, Carma HoldCo, which aims to leverage celebrity-driven branding to build cannabis markets globally.

NHL Players Increasingly Opt For Cannabis Over Alcohol

A recent survey conducted by The New York Times found that an increasing number of NHL players are choosing cannabis edibles over alcohol for relaxation and pain management during the season.

When asked if they had used cannabis edibles during the regular season, 38% of players said yes.

Many players reported preferring edibles with a balance of THC and CBD, rather than high-THC products.

While cannabis remains legal in Canada and in many U.S. states with NHL teams, the league itself does not penalize players for THC use. However, those with abnormally high THC levels may be referred to the NHL Players Assistance Program for further evaluation.

As professional sports leagues continue to modernize their policies, the NHL stands out for its long-standing neutral stance on cannabis use—unlike the NFL, which has only recently reduced penalties for positive THC tests and raised its allowable THC threshold for players.