Last Week in Cannabis #4
Last Week in Cannabis
June 8–13, 2026 | Issue #4
Hey friend — welcome back to Last Week in Cannabis. Two big Canadian numbers this week, and a look at how Germany's legalization experiment is holding up two years in. Let's get into it.
1. CANADA — Quebec's Cannabis Store Just Crossed $800 Million in Annual Sales
The Société québécoise du cannabis — Quebec's government-run cannabis retailer, better known as the SQDC — reported total sales of $809.5 million for the fiscal year ending March 28, 2026, up from $741.5 million the year before. Net income came in at $132.4 million, and the SQDC contributed a total of $331.3 million to the Quebec government, with $250.6 million earmarked specifically for addiction prevention, research, and countering the harmful effects of psychoactive substances. StratCann
Mary Jane's Take: This is a meaningful number for a few reasons. First, it shows that a government-run, health-focused retail model can still grow — Quebec's SQDC doesn't compete on price the way private retailers do, and it still crossed $800 million. Second, the way the revenue gets used matters. A quarter of a billion dollars going toward addiction prevention and cannabis research is exactly the kind of reinvestment a well-designed legal market should produce. Quebec gets a lot of criticism from industry for being too cautious, but there's something to be said for a model built on harm reduction from the ground up.
2. CANADA — Aurora Cannabis Had Its Best Year Ever
Aurora Cannabis reported record annual global medical cannabis net revenue of $288.6 million for fiscal 2026, up 18% year over year, alongside record adjusted EBITDA of $53.8 million, up 32%. International markets now represent approximately 58% of total revenue, with growth led by Germany and Poland. canada
Mary Jane's Take: Aurora has had a rough few years by most measures, so record revenue and profitability is genuinely good news — for the company and for the argument that Canadian cannabis producers can build sustainable, export-driven businesses. The pivot toward medical and international markets is clearly working. Worth noting that Aurora has fully exited the adult-use recreational market to get here, which tells you something about where the real margins are right now.
3. GERMANY — Two Years of Legal Cannabis, and the Sky Hasn't Fallen
Germany legalized adult-use cannabis in April 2024, and a major government-commissioned evaluation report was published this spring with two years of data. The report found that fears about a negative impact on traffic safety have not proven true — there was no meaningful increase in accidents involving drivers under the influence of cannabis following legalization. The black market persisted, but early signs pointed to a gradual shift toward legal sources, and up to 200 tonnes of medical cannabis were available in Germany in 2025 between imports and domestic production. Cannabis EuropaCannareporter
Mary Jane's Take: This is the kind of real-world data that matters in cannabis policy debates. Opponents of legalization often point to traffic safety as a primary concern, and so far the German evidence doesn't support that fear. The black market didn't disappear overnight — it never does — but a gradual shift toward legal sources is exactly what you'd hope to see in a functioning regulated market. Germany's experiment is still young, but the early indicators are encouraging.
4. UNITED STATES — Hemp Drinks Get New Rules in New Jersey, and the Broader US Hemp Debate Heats Up
Three Republican members of Congress filed separate amendments to large-scale agriculture legislation this week that would prevent a scheduled federal ban on hemp THC products from taking effect in November. The November deadline — which would restrict hemp-derived cannabinoids significantly — is creating urgency across the US hemp industry. International Cannabis Business Conference
Meanwhile at the state level, New Jersey finalized rules effective May 31st capping intoxicating hemp beverages at 5 milligrams of THC per serving and 10 milligrams per container, with mandatory lab testing required for compliance. StratCann
Mary Jane's Take: The US hemp market is in a genuinely complicated place right now. Hemp-derived THC products — drinks, gummies, and similar items — have exploded in popularity partly because they exist in a regulatory grey zone that's cheaper and easier to access than licensed cannabis in many states. The November federal deadline could upend a multi-billion dollar industry almost overnight. Whether Congress intervenes or the deadline holds will be one of the bigger US cannabis stories of the second half of 2026.
5. EUROPE — EU Drug Agency Flags Rising Cannabis Potency Across the Continent
A new report from the European Union Drugs Agency warned this week that cannabis potency is rising across Europe, with contamination risk also becoming a growing concern — particularly in unregulated markets where consumers have no way to verify what they're actually consuming. Cannabis EuropaCannareporter
Mary Jane's Take: This is exactly why regulated markets matter. When cannabis comes from a licensed source, it's tested, labelled, and consistent. When it comes from unregulated sources — which is still the reality for most European consumers outside a handful of countries — potency and contamination are genuine unknowns. Higher-potency cannabis isn't automatically dangerous, but it does change the risk profile, especially for new or occasional users. If you're in a country without legal access, this is another reason to be careful about what you buy and where.
That's your week — two from Canada, three from around the world. See you next Monday.
— Mary Jane
