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Cannabis Benchmarks U.S. Spot Index Report for August 22, 2025 The U.S. Spot Index decreased by 4.1% to $1,048 per pound this week. The Nevada Cannabis Spot Index fell to a 2025 low this week, losing 15.3% per pound since last week. Continued downward pricing pressure for indoor grown flower was the main driver, with the state indoor index declining by 16.0% per pound. Since reaching a high for the year in the middle of May, the state indoor index has lost over 30% in value. After inching closer to the weighted average price of indoor grown flower over the past 7 weeks, the Massachusetts Greenhouse Cannabis Index climbed above the indoor index for the first time in our reporting. This grow type price inversion has occurred in other markets and came close to happening in Massachusetts several times in the last 3 years. Large volumes of low-priced bulk indoor flower flooding the market and dropping the state indoor index down 7.7% per pound was behind the movement. The price inversion occurred despite the state greenhouse index losing 1.4% per pound. The Michigan Cannabis Spot Index has been increasing at a relatively steady pace for 9 weeks, after battling extremely low prices for much of the year, mainly due to the significant oversupply of outdoor grown flower available to buyers. This week the state composite index gained 4.0% per pound, the high mark for the year. Prices for both greenhouse and outdoor grown flower also increased, by 6.2% and 5.6%, respectively. For the full report and more, visit us at www.cannabisbenchmarks.com