But the New Zealander continues to battle an allegation he supplied cocaine to a fellow first-grade player in 2025.
The South Sydney Rabbitohs hooker faced Southport Magistrates Court on Thursday for the update on the two criminal charges against him.
The police prosecutor withdrew the allegation Smith had disclosed inside knowledge of the Souths' starting line-up for his return from injury on July 2, 2025, telling Magistrate Louisa Pink that he would offer "no evidence" for the charge.
Smith's solicitor Paul McGirr spoke outside court and said his client was "satisfied with the result"
"This matter should never have seen the light of day," Mr McGirr told media.
"Brandon has asked me to express he just wants to get on with his life, he is playing good football, he is in a good place at the moment."
Mr McGirr said it was unfortunate it had taken a year to get the charge finalised.
Smith's inside knowledge about being moved to the run-on side for the Rabbitohs' clash against Manly was previously alleged to have been shared with an associate, who subsequently placed a bet on the game.
Investigators had obtained messages between Smith and his alleged associate, Ms Pink heard.
"There are screenshots taken of bets being placed ... of $200 for Smith for first try at odds of $91, which would have returned over $18,000," the prosecutor said.
Some of Smith's text messages to his alleged associate on the Gold Coast allegedly containing inside information had been received via a mobile phone tower based in NSW, Ms Pink heard.
That tower data created an argument that no offence had been committed in Queensland, the prosecutor said.
Mr McGirr attacked a gambling expert's evidence as "pure speculation" and suggested nothing about publicised player lists had been put forward.
"The brief of evidence ... is extremely poorly prepared given the delay," he told the court.
Smith remains charged with unlawfully supplying Sydney Roosters lock Victor Radley with cocaine at Currimundi, on Queensland's Sunshine Coast, on June 7, 2025.
The charges stem from a police investigation following the seizure of Smith's phone at Gold Coast Airport.
Radley has not been charged with any offence.
Mr McGirr said outside court he would continue to speak to police about Smith's remaining charge.
"Hopefully common sense will prevail on that," he said.
Smith was questioned by police in August 2025 when he arrived in Queensland for a match with Gold Coast.
He was charged at a later date.
Mr McGirr sought legal costs from Queensland Police on Thursday, arguing investigators and prosecutors had not acted in good faith.
Smith had spent a considerable sum to defend a charge that had gathered widespread media attention and threatened to end his livelihood, Ms Pink heard.
"Even a junior prosecutor would look at this particular matter and realise there are problems," Mr McGirr said.
"The betting company, being Sportsbet, was not spoken to ... that was fatal to their case."
While Ms Pink accepted police continued to prosecute the charge despite not having evidence that Smith had proven insider knowledge of the player list, she declined to order police cover all of the hooker's legal costs.
Police were ordered to pay a total of $3500 for the nine times he required legal representation in court.
Smith, a former Kiwi international, has played 164 games since his 2017 NRL debut.
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