Virginia Legalization Is Back On Track
Shadd Dales and Anthony Varrell returned to the Trade to Black studio for Tuesday’s episode, presented by Flowhub, with some of the latest news in the space. First, we open with a look at the psychedelic investment space following strong Phase 3 trial results from Definium Therapeutics (NASDAQ: DFTX). Nik Kouparanis of Bloomwell logs on to discuss the current state of Germany’s cannabis market. And Trent Woloveck of Jushi Holdings (OTCQB: JUSHF) joins the program to discuss Virginia and it’s newly approved adult-use legalization framework.
Nik Kouparanis, CEO of Bloomwell, delivered a ground-level update on Germany’s medical cannabis market. He reported that import volumes have grown dramatically since Germany reclassified medical cannabis in April 2024, rising from roughly 30 tons in 2023 to 200 tons in 2025, with projections of 250 to 300 tons in 2026. Kouparanis noted that a proposed government crackdown on telemedicine has stalled, with the SPD blocking conservative-led efforts to tighten regulations, and said he does not anticipate meaningful rule changes before year-end.
On the question of potential US cannabis exports, he confirmed strong patient demand for California product. It currently commands around 30 euros per gram on the illicit market, but the regulatory pathway for US exporters remains complex and is likely years away.
In the second segment, Trent Woloveck, Chief Strategy Officer of Jushi Holdings (OTCQB: JUSHF), broke down Virginia legalization news and its newly approved adult-use cannabis framework, which was embedded in the state budget after Governor Spanberger’s initial veto. Woloveck described the veto as partly a reflection of technical drafting gaps in the original bill and a political assertion of executive leverage, with a workable compromise ultimately reached through close coordination between the administration and bill patrons.
The framework establishes a pathway toward regulated adult-use sales beginning July 1, 2027, and the conversation covered the licensing structure, conversion pathway for existing medical operators, taxation, and the overall market rollout plan. Both hosts framed Virginia as one of the most consequential emerging cannabis markets in the country. Hear our thoughts during the episode.
