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Insight

January 23, 2026
Cannabis and Psychedelics Monthly Newsletter

the buzz: Cannabis News & Policy Update | January 2026

Welcome back to the buzz, our monthly cannabis news and policy update. Your at-a-glance source for regulatory developments, agency announcements, and trends impacting the cannabis industry.

In this edition of the buzz, highlights include:

  • Federal momentum shifts:  Executive Order directing DOJ to expedite marijuana rescheduling to Schedule III has no timeline; Smart Approaches to Marijuana vows to challenge
  • New market milestones:  KY launches first legal medical sales after 3-year wait; VA preps for adult-use commerce with July licensing applications and November sales
  • Tax battles intensify:  MI's new 24% wholesale tax faces court challenges; ME bumps adult-use sales tax to 14% but cuts cultivation taxes
  • Hemp regulations tighten:  MI moves intoxicating hemp into regulated cannabis market; TX proposes consumable hemp regulations; NM adopts new hemp rules; OH restricts intoxicating hemp sales to dispensaries
  • Markets under threat:  Repeal initiatives targeting existing adult-use programs advance in AZ, ME, and MA—signature collection underway for 2026 ballots; FL legalization ballot initiative challenged in court

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This publication is designed to provide general information on pertinent legal topics. The statements made are provided for educational purposes only. They do not constitute legal or financial advice nor do they necessarily reflect the views of Holland & Hart LLP or any of its attorneys other than the author(s). This publication is not intended to create an attorney-client relationship between you and Holland & Hart LLP. Substantive changes in the law subsequent to the date of this publication might affect the analysis or commentary. Similarly, the analysis may differ depending on the jurisdiction or circumstances. If you have specific questions as to the application of the law to your activities, you should seek the advice of your legal counsel.

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