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CRB Monitor | Weekly Update | May 11 - May 17, 2024
Published on May 22, 2024

CRB Monitor Database: Charting Growth

Tier 1A cannabis-related businesses grew by 154 to 77,764, while 1B CRBs stayed the same at 4,018. Active licenses increased by 180 with another 321 newly approved/pending licenses waiting in the wings.

Tier 1 Cannabis-Related Business Counts

Weekly Summary: 77,764 1A MRBs + 4,018 1B MRBs = 81,782 total


1A CRB-052024
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-052024
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. 

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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.

Adverse Media

Michigan cracks down on marijuana processor over missing cartridges, untested product logo_color_markonly 20px
Crafted Canopy Flower Recalled by California Regulators for Aspergillus, Inaccurate Labeling logo_color_markonly 20px
Massachusetts issues cease-and-desist order to hemp manufacturer using THCV


New York hit with another lawsuit challenging marijuana social equity
As Alabama’s legislative efforts over medical cannabis fall short, litigation continues logo_color_markonly 20px
Mass. Pot Shop Ordered To Recognize Union, Rehire Workers logo_color_markonly 20px
Cannabis Co., Wrigley Heir Settle $7M Investor Suit logo_color_markonly 20px
Connecticut attorney general settles with unlicensed marijuana event organizers
A California woman's lawsuit may throw RI's retail pot industry into 'chaos'

Legalization & Regulation

AG Garland Submits Proposed Rule to Reschedule Cannabis
Iowa Governor Signs Bill to Regulate Hemp-Derived Cannabinoids
GOP House Leaders Propose Reducing Barriers For Some Hemp Growers In Draft Farm Bill
Why rescheduling could be a boon to marijuana research
Washington State regulators posted summaries of newly enacted marijuana legislation
New Hampshire Senate Approves Marijuana Legalization Bill After Changing House-Passed Version
Connecticut Governor Signs Hemp Regulation Bills
Social Equity Cannabis Businesses in MA Say They’ve Been Sold ‘Bag of Dreams’
Ohio has fewer local marijuana industry bans than MI and NY, analysis finds
Key approval paves way for Ohio’s adult-use cannabis market to open in June
Utah Regulators Issue Update on 2024 Medical Cannabis Laws
Top US drug agency a notable holdout in Biden’s push to loosen federal marijuana restrictions
Delaware Legislators File New Bill To Allow Dual Licenses For Medical Cannabis Operators

Mergers & Acquisitions

BioTrack And MJ Freeway Merging Under Alleaves logo_color_markonly 20px logo_color_markonly 20px
Nature’s Miracle, Agrify call off $6.4M merger deal logo_color_markonly 20px logo_color_markonly 20px


Tilray hopes to raise $250 million to buy U.S. assets logo_color_markonly 20px
Massachusetts saturated with cannabis cultivation, retail – but there’s still room to grow logo_color_markonly 20px
Tribally owned marijuana store numbers up 25% since 2023
SOMAÍ Group and subsidiary RPK Biopharma expand Cookies partnership to Europe, UK logo_color_markonly 20px
Colorado cannabis retail chain Silverpeak is up for sale logo_color_markonly 20px
Michigan is selling more cannabis, but retailers are taking in less money


Czech Lower House Approves Draft Law Regulating HHC

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