#119 - Year-End Wrap Up Part 2: Predictions, Policy Reality, & Fire Horse Energy

It’s a cozy year-end check-in—and a clear-eyed look at what’s next. Recorded Tuesday, December 30, 2025, Ben & AnnaRae close out the year by revisiting their 2025 predictions, unpacking what actually happened across regulated cannabis and hemp-derived THC, and setting the tone for 2026: faster, sharper, and more focused.From the surreal experience of finding cannabis policy debates in a 1969 Playboy issue to today’s rescheduling whiplash, this episode zooms out on the long arc of reform—and zooms in on what operators should be watching right now: enforcement, consolidation, mainstream retail adoption, and the fight for sensible regulation.What You’ll LearnWhich 2025 predictions came true (Farm Bill punt, beverages gaining share) — and which didn’tWhy **states—not feds—**continue to shape enforcement (and where that breaks down)The real outlook on rescheduling vs. descheduling and why “it’s not enough” is the next phaseHow THC beverages are winning consumer mindshare—and pulling mainstream retail along with themWhat consolidation actually looked like in 2025 (and why the “real M&A wave” may still be ahead)Why 2026 demands speed, clarity, and fundamentals—aka the “Fire Horse” mindsetHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.