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CRB Monitor | Weekly Update | February 22 - February 28, 2025
Published on March 5, 2025

CRB Monitor Database: Charting Growth

The industry shed 361 active licenses the month of February, falling from 50,943 the week of Feb. 1 to 50,582 by Feb. 28. Approved/pending and pre-licenses also dropped slightly for the month. Still, there are 600 more total licenses than a year ago, an increase of 0.9%, due to pre-licensing.

Tier 1 Cannabis-Related Business Counts

Weekly Summary: 88,666 1A CRBs + 4,909 1B CRBs = 93,575 total

1A CRBs

1A CRB-030425
Tier 1A defined: Businesses in this tier literally touch the cannabis plant at some point along the supply chain from "seed to sale," and are generally licensed by a government agency or regulator. Effectively all of their actual or expected revenue is derived from the cultivation, production, testing or sale of cannabis. 

1B CRBs 

1B CRB-030425
Tier 1B defined: Businesses that have a financial or controlling interest in a Tier 1A CRB. CRB Monitor generally considers 1B businesses as seemingly unrelated businesses highlighted as red flags by FinCEN in its marijuana banking guidance and are similar in nature to individual beneficial owners. 

Cannabis Business Licenses

CBL-030425
Note: Inactive licenses, unlicensed, and unknown licenses have been excluded.

Beneficial Owners Count

BOR-030425
Beneficial owners defined: For beneficial owners, each economic owner or controlling person is classified into one or more categories based on their relationship to the linked CRB including: (1) Owner/Investor, (2) Board Member, (3) Corporate Officer, (4) Executive, (5) Non-commercial Registered Agent or (6) Senior Manager. 

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Cannabis News of Note

A selection of relevant cannabis-related news. Items marked with logo_color_markonly 20px indicate links to licensed business profiles in the CRB Monitor database.

Litigation

Ohio judge tosses cannabis business ownership dispute, citing federal prohibition (subscription)
Major cannabis players in Illinois seek consolidation for labeling class actions (subscription) logo_color_markonly 20px logo_color_markonly 20px
Deal struck in bankruptcy of California marijuana operator Unrivaled Brands logo_color_markonly 20px

Legalization & Regulation

Cannabis bills fail to advance in Indiana Legislature
Illinois, Maine pondering marijuana consumption measures
Virginia governor expected to veto recreational marijuana sales legislation
Cannabis MSO Jushi benefiting from little-used IRS tax-credit program logo_color_markonly 20px
Massachusetts cannabis retailer owes more than $420,000 in state taxes logo_color_markonly 20px

Licensing

MN Compact Could Give Tribal Retailers a Head Start

Markets

Cannabis retailer High Tide rethinking acquisition of German operator logo_color_markonly 20px
1933 Industries losses contract year-over-year, but company still in the red (subscription) logo_color_markonly 20px
Bright Green Completes Restructuring, Sets Course to Produce Controlled Substances logo_color_markonly 20px
Blum Holdings Reaches Global Settlement With People’s California logo_color_markonly 20px
Medical cannabis registries show steep decline after launch of adult-use sales
New Jersey adult-use cannabis market heating up with new entrants logo_color_markonly 20px logo_color_markonly 20px
Michigan’s largest cannabis company looks to tap hemp-derived THC market (subscription) logo_color_markonly 20px
Ascend Wellness Reopens Dispensary in Detroit With ‘Deli-Style’ Experience logo_color_markonly 20px
Story Cannabis Co. Opens 4th Ohio Dispensary in Cleveland logo_color_markonly 20px

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