CRB Monitor Database: Charting Growth
Our Tier 1B cannabis-related business records dropped by nine, offsetting 62 new Tier 1A records, for a total 99,389 CRBs for the week of Dec. 13. Consolidation continued among licensed businesses as active licenses decreased by 291. However, beneficial owner records jumped by 282.
Tier 1 Cannabis-Related Business Counts
Weekly Summary: 94,303 1A CRBs + 5,086 1B CRBs = 99,389 total
1A CRBs
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
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
Note: Inactive licenses, unlicensed, and unknown licenses have been excluded.
Beneficial Owners Count
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.
Cannabis News of Note
A selection of relevant cannabis-related news.
Adverse Media
Maryland fines Green Leaf Medical $33k over sampling and record-keeping violations
Litigation
Virginia court grants partial injunction in challenge to state vape regulations
US Supreme Court rejects federal marijuana prohibition challenge
Legalization & Regulation
President Orders Rescheduling and Hemp Reconsideration
Report provides insight into enforcement against unlicensed cannabis stores in Ontario
Campaign to end Maine adult-use marijuana legalization cleared to begin
Florida Attorney General Asks Supreme Court To Review 2026 Marijuana Legalization Ballot Initiative
Ohio Governor Signs Bill to Recriminalize Some MJ Activity, Vetoing Provision to Allow THC Drinks
Minnesota Signs Cannabis Agreement with Red Lake Band of Chippewa Indians
New Intoxicating Hemp Restrictions Bill Passes NJ Senate Committee
How the cannabis industry leveraged a big win from Trump
ABC Board passes emergency rule on hemp products over opposition from law’s sponsor
Licensing
Q3 2025 Cannabis Business Licensing Activity
Minnesota Licensing Secondary Market Emerges
Massive drop in cannabis cultivation permits behind licensing contraction
Markets
CRB Monitor Securities Update | November 2025
Kentucky launches medical marijuana sales as first dispensary opens
Jushi Holdings Amends CEO Employment Agreement
Cannabis MSO Vireo bets on Colorado with $49 million acquisition
Vireo Growth Enters $49M Deal to Acquire 17 PharmaCann Dispensaries in Colorado
Trulieve Announces Closing of US$140 Million Private Placement of 10.5% Senior Secured Notes
Canopy Growth will acquire MTL Cannabis in a $179 million