New federal data underscore the cannabis industry’s expanding contribution to state finances, while a social-equity partnership is bringing another licensed retailer into California’s competitive market. Beyond cannabis, the dispute between broadcasters and federal regulators is increasingly shaping how politically sensitive entertainment programming reaches audiences.
State Cannabis Excise Revenue Reaches $3.55 Billion
Thirty states and the District of Columbia collected an estimated $3.55 billion in cannabis excise tax revenue between July 2025 and June 2026, according to new U.S. Census Bureau data. That represents a 15.7% increase from the $3.06 billion collected in fiscal 2022, when the bureau’s tracking program was still relatively new.
The report also illustrates how tax policy can materially affect collections. California’s cannabis tax revenue fell from $878.56 million in fiscal 2022 to $528.23 million in fiscal 2023 after the state eliminated its cultivation tax, although nationwide collections subsequently recovered as additional states entered the market.
Why It Matters: Analysis: The figures give policymakers and investors a standardized federal measure of the regulated industry’s fiscal footprint. California’s experience also demonstrates the tradeoff regulators face between maximizing tax receipts and reducing the price advantage held by illicit operators.
Source: U.S. Census Bureau
Perfect Union Enters San Jose Through Social-Equity Partnership
MWG Holdings announced the opening of its first Perfect Union dispensary in San Jose, with an official ribbon-cutting scheduled for September 16. The location expands the California cannabis company’s retail footprint into the Silicon Valley market.
The store was developed through a local equity partnership with Giau Nguyen, who participated in San Jose’s Cannabis Equity Business Academy. The program is designed to help eligible local entrepreneurs develop and operate licensed cannabis businesses.
Why It Matters: Analysis: The opening provides a practical test of whether social-equity licensing can produce durable ownership opportunities when paired with an experienced operating company. It also signals continued retail investment despite California’s intense competition, illicit-market pressure and challenging operating costs.
Source: MWG Holdings Group via PR Newswire
Kimmel Moves Senate Candidate Interview Off ABC Amid FCC Conflict
Jimmy Kimmel said his interview with Texas Democratic Senate candidate James Talarico would be distributed on YouTube rather than broadcast on ABC television. Kimmel attributed the decision to regulatory pressure affecting his program, ABC and the network’s local affiliates.
The move comes as Disney-owned ABC challenges an early Federal Communications Commission review of its television station licenses. The dispute also involves uncertainty over whether the FCC’s equal-time requirements should apply to political candidates appearing on late-night and daytime programs.
Why It Matters: Analysis: Moving a politically significant interview from broadcast television to an unregulated digital platform shows how regulatory uncertainty can alter editorial decisions, audience distribution and affiliate risk. It may also accelerate the shift of high-profile political entertainment content from traditional networks to online video platforms.
Source: Associated Press
What We’re Watching
Over the next 24 to 72 hours, watch for industry reaction to the Census Bureau’s cannabis tax findings, additional details surrounding Perfect Union’s San Jose rollout and any new legal or regulatory response in ABC’s escalating conflict with the FCC.
