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- 🌱 Texas Policy Fight, Weedmaps Goes Private, DoorDash THC
🌱 Texas Policy Fight, Weedmaps Goes Private, DoorDash THC
Welcome to Rise & Roll, a bi-weekly newsletter that keeps you smart, savvy, and always in the loop on the latest in cannabis.
Here’s what we have on deck for today…
Texas lawmakers battle over cannabis future
Texas just became ground zero for cannabis policy. While Rep. González pushes a bill to legalize adult-use cannabis with generous possession limits and a 10% tax rate, Lt. Gov. Patrick is rallying support to ban all THC products — even hemp-derived ones like delta-8.
The stakes are massive.
While medical cannabis exists in Texas, it's super limited.
Some cities allow personal possession, but the state's fighting those laws.
With the legislature back in session next month, cannabis businesses are watching closely - this fight could create either a massive new market or eliminate existing opportunities entirely.
Weedmaps founders aim to take company private
Weedmaps might be leaving the public markets. Co-founders Doug Francis and Justin Hartfield offered $1.70 per share to buy back their cannabis tech platform — a 39% premium over the current price.
Since going public in 2021, Weedmaps has lost over $2.3 billion in value and faced SEC fines for misreporting user numbers.
The founders argue private ownership could help navigate industry challenges like declining markets and increased competition from traditional tech players. They already own 32% of shares and expect to reach a deal within a month.
DoorDash dives into hemp product delivery
DoorDash just crashed into the cannabis space, rolling out nationwide delivery for hemp-derived THC and CBD products.
The delivery giant is bringing its tech muscle to the game, using the same ID verification system it developed for alcohol delivery
During the pilot, customers couldn't get enough of THC gummies, drinks, and mints
This move signals a major shift in how cannabis products reach consumers. When a tech giant like DoorDash jumps in, it's not just about convenience — it's about bringing legitimacy to the entire delivery ecosystem.
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