Glass House Brands said a July 2025 immigration raid led to the arrests of hundreds of workers and the death of one worker, contributing to a revenue decline and a loss of nearly $30 million. In April 2025, the federal government reclassified medical marijuana as a Schedule III controlled substance, prompting the company to spin off its retail unit and list on the New York Stock Exchange on June 30. The stock jumped 60% in a single session in December after a federal policy signal and doubled over four months. Analysts say labor disruptions have largely eased and that the company has potential to sell across borders.

California’s mountain snowpack sank to historically low levels in June, with the Northern Sierras and Cascades at 0% of average, the Central Sierras at 4% and the Southern Sierras at 15%. The statewide snowpack was down to 18% of average on April 1, and surveyors reported no measurable snow in the Northern Sierra Nevada. Dry conditions combined with hotter-than-average temperatures are spreading drought risk across the state, threatening irrigation supplies. California produces more than 80% of U.S. almonds and nearly half of its grapes, and tighter water availability could curb output and hit related agricultural futures.