The Dales Report | Trade to Black

The bill splits hemp consumables into two different tax categories. Beverages get taxed at 5 cents per milligram of THC, while everything else gets taxed at 5%, though reporting is inconsistent on whether that’s 5% of retail price or 5% of manufacturer revenue, two very different things. Dales runs the math showing hemp drinks would actually carry 2 to 4 times the federal tax burden of alcohol per serving, despite the bill borrowing alcohol’s regulatory structure, right down to handing oversight to the TTB and setting up a three-tier distribution system that groups like the Wine & Spirits Wholesalers of America and Total Wine are reportedly happy about.Dales also breaks down the enforcement problem, since accurately taxing THC content at the point of production assumes reliable potency testing, something hemp has never been consistent at, and raises the question of whether the proposed 5 cent plus 5% structure is actually calibrated to fund real oversight or just designed to raise revenue.#HempBan #LawfulHempProtectionAct #HempTax #AndyBarr #CannabisIndustry #HempReform #CannabisPolicy #HempIndustry #TTB #CannabisNewsWant to see more Cannabis Reform?🎬    • Does This Hemp Bill Actually Fix Anything?...  🎬    • Cannabis Support Didn’t Drop — Here’s What...  🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade to Black, presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down today’s announcements to start things off. First up, SNDL (NASDAQ: SNDL) (CSE: SNDL) made big news by completing its acquisition of Parallel’s Florida, Texas, and Massachusetts assets, a move that positions SNDL to become one of the first Nasdaq-listed companies with direct, consolidated exposure to U.S. medical cannabis operations, adding a 249-store retail network to its portfolio. Next, Glass House Brands (NYSE: GLAS) (CBOE CA: GLAS.A.U) retained former DEA compliance executive Matt Murphy to advise on interstate commerce and export opportunities, leaning on his background building Colombia’s first DEA-comparable compliance program at Khiron Life Sciences. And Vireo Growth (CSE: VREO) (OTCQX: VREOF) agreed to acquire Planet 13 Holdings, a deal that would push Vireo’s Nevada and Florida footprint significantly higher and put its total dispensary count around 265 across 15 states, positioning it as the largest U.S. cannabis operator by store count once all pending deals close.In segment two, global cannabis industry expert and consultant Deepak Anand joins the show to break down how the global cannabis export process will actually work once U.S. reform is finalized. Anand separates fact from fiction on DEA applications, GMP compliance, and what operators genuinely need to understand before they start planning around export opportunities. #CannabisNews #Cannabis #MSOS #CannabisRescheduling #SNDL #GlassHouseBrands #VireoGrowth #Planet13 #CannabisExports #DEACompliance #CannabisIndustryWant to see last week's recap?🎬    • A Lifeline For Hemp, But Is It Right? | TT...  Want to see more Cannabis Reform?🎬    • Does This Hemp Bill Actually Fix Anything?...  🎬    • Cannabis Support Didn’t Drop — Here’s What...  🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade to Black, the show shifts back to cannabis equities after weeks focused on the ALJ hearing and rescheduling, checking in on what companies actually took away from IgniteIt in Chicago a month and a half ago, widely described as one of the strongest cannabis events in years. We bring in Ryan Crandall, Chief Commercial Officer of MariMed (CSE: MRMD) (OTCQX: MRMD), to break down what he saw and heard.Crandall breaks down the mood in Chicago, described as upbeat across the board, and touches on the Bob Fireman Entrepreneur of the Year Award going to Weldon Angelos, honoring his advocacy work for people incarcerated on cannabis offenses. He walks through MariMed’s Expand the Brand strategy, built around growing retail and wholesale footprint, and the company’s new Nose Knows campaign for its Nature’s Heritage flower brand, which shifts consumer focus away from THC percentage and toward aroma and terpene profile. The podcast also covers MariMed’s recently filed DEA application on the medical side of the business, the role loyalty programs play in driving repeat purchases, with 80% of transactions coming from loyalty members, and the launch of the company’s new Thrive app. Crandall closes out talking about his seat on the U.S. Cannabis Council’s policy committee and what themes, rescheduling and banking chief among them, are top of mind heading into Q4.#TradeToBlack #MariMed #CannabisEquities #CannabisBranding #CannabisRescheduling #CannabisBanking #USCannabisCouncil #BettysEddies #CannabisStocks #CannabisIndustryWant to see more Cannabis Reform?🎬    • Does This Hemp Bill Actually Fix Anything?...  🎬    • Cannabis Support Didn’t Drop — Here’s What...  🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

On this week’s Trade To Black Weekly by FRE, host Shadd Dales runs through the biggest developments across cannabis and psychedelics. The headline this week is hemp policy, with Representatives Andy Barr and Angie Craig’s Lawful Hemp Protection Act offering a real alternative to the November THC cliff, raising the limit to 1% total THC by dry weight while adding federal permits, labeling standards, and a three-tier system for beverages.We also cover Senate Democrats reviving the CAOA, now one of three federal legalization frameworks on the table alongside the MORE Act and STATES 2.0, and why reform might ultimately come from Republicans instead.On the consumer side, RYTHM, a brand under Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF), saw its Señorita brand become the official THC beverage partner of Lollapalooza, the latest sign that hemp-derived THC beverages are moving into festivals, arenas, and entertainment venues instead of staying confined to dispensaries. Vireo Growth (CSE: VREO) (OTCQX: VREOF) keeps expanding too, picking up assets from The Cannabist Company (CBOE CA: CBST) (OTCQX: CBSTF) across five states and pushing its footprint toward 230 dispensaries nationally.Cannara Biotech (TSX: LOVE) (OTCQX: LOVFF) launched a share buyback, Auxly Cannabis (TSX: XLY) (OTCQB: CBWTF) is simplifying its capital structure with a reverse split, and in psychedelics, Helus Pharma (NASDAQ: HELP) finished Phase 3 enrollment early for HLP003 while Incannex Healthcare (Nasdaq: IXHL) began screening patients for its sleep apnea trial.A full rundown of where the cannabis and psychedelics industries stand over the past 7 days.#Cannabis #CannabisIndustry #Hemp #HempIndustry #HempBan #CannabisStocks #CannabisRescheduling #AndyBarr #MSOS #CannabisNews #HempReformWant to see more Cannabis Reform?🎬    • Does This Hemp Bill Actually Fix Anything?...  🎬    • Cannabis Support Didn’t Drop — Here’s What...  🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

He walks through why the headlines are getting ahead of the actual story. Barr’s office is signalling administration support, but the White House itself hasn’t confirmed that directly, instead pointing back to Trump’s earlier public comments about Congress possibly revisiting the hemp ban.According to Marijuana Moment’s sources, the White House has specific concerns with the bill’s inhalable hemp provisions, the most politically sensitive piece of the entire debate.The episode gets into why the administration’s real priority right now is getting cannabis rescheduled to Schedule III, and why they’re reportedly cautious about anything that could complicate that process before it’s finished.It also covers the split within the hemp industry itself, between companies built around shipping intoxicating products across state lines under the 2018 loophole, and companies pushing for a properly regulated market with real standards.The case being made is that both cannabis and hemp need a framework that’s licensed, tracked, tested, and consistent, rather than one industry operating under strict rules while another ships high-THC products nationwide with no oversight.#TDRCannabis #HempBill #AndyBarr #AngieCraig #CannabisPolicy #ScheduleIII #HempReform #CannabisRegulation #WhiteHouse #CannabisNews #Trump #TrumpAdministrationWant to see more Cannabis Reform?🎬    • Does This Hemp Bill Actually Fix Anything?...  🎬    • Cannabis Support Didn’t Drop — Here’s What...  🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

TDR heads back on location, this time to Manassas, Virginia, for a walkthrough of Jushi Holdings’ (OTCQX:JUSHF) 93,000-square-foot cultivation and processing facility, one of only four operational cultivation and processing facilities in the state right now, with a fifth under construction. Chief Strategy Officer Trent Woloveck leads the tour through the entire seed-to-sale process, starting in the mother room where genetics are preserved, through propagation and veg, into the flowering rooms, and finally into harvest, drying, and extraction, covering both CO2 and ethanol methods along with solventless techniques used to produce their concentrates. The tour continues into the finishing side of the operation, where the team packages vapes, gummies, chocolates, and concentrates, including products built around minor cannabinoids for nighttime use.Trent also breaks down why Virginia matters so much to Jushi’s strategy. The state’s medical market currently sits around just 1% patient penetration, but adult-use sales are set to begin July 1, 2027, and the total market could be worth as much as $4 billion. Jushi is investing more than $50 million into this facility alone and plans to expand canopy by 250% ahead of that transition. The episode wraps with Chief Creative Director Andreas Neumann, who brings a background working with brands like Coca-Cola, T-Mobile, and Guinness, talking through how Jushi has approached brand building in cannabis and why retail brand recognition has mattered as much as the product itself.A full, unfiltered look inside one of Virginia’s biggest cannabis operations ahead of adult-use legalization.#TDR #JushiHoldings #Virginia #Cannabis #CannabisCultivation #AdultUseCannabis #CannabisExtraction #CannabisIndustry #CannabisStocks #MSOS #CannabisBrandsWant to see more Cannabis Reform?🎬    • Does This Hemp Bill Actually Fix Anything?...  🎬    • Cannabis Support Didn’t Drop — Here’s What...  🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade to Black podcast, presented by Flowhub, hosts Shadd Dales and Anthony Varrell bring in Dan Ahrens, Managing Director and Chief Operating Officer of AdvisorShares, to talk through what’s happening in the psychedelic sector. Ahrens covers the recent inflows into the AdvisorShares Psychedelics ETF (NYSE Arca: PSIL), a move that follows Eli Lilly’s (NYSE: LLY) acquisition of Atai Beckley (NASDAQ: ATAI) last week along with recent data out of Compass Pathways (NASDAQ: CMPS) and Definium Therapeutics (NASDAQ: DFTX). He also shares his reaction to the ALJ hearing, what he expects the outcome to be, and how that ruling could ripple through cannabis equities heading into the fourth quarter.In segment two, FundCanna CEO Adam Stettner joins the show to break down the new bipartisan Lawful Hemp Protection Act, introduced in Washington yesterday by Republican Andy Barr and Democrat Angie Craig. We get into the bill’s proposed tax structure, a 5% federal retail tax plus a separate tax on THC-based beverages, and use it as a jumping-off point for a broader conversation on what sensible taxation for the hemp industry should actually look like.LIke, subscribe, and leave your comments!#Cannabis #CannabisNews #CannabisIndustry #MSOS #CannabisStocks #CannabisEquities #Psychedelics #PsychedelicStocks #CompassPathways #ALJ #ALJHearing #CannabisRescheduling #Hemp #HempIndustry #HempBanWant to see more Cannabis Reform?🎬    • Does This Hemp Bill Actually Fix Anything?...  🎬    • Cannabis Support Didn’t Drop — Here’s What...  🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

On this episode of TDR Cannabis in 5, powered by Flowhub, host Shadd Dales breaks down the new Lawful Hemp Protection Act, a bipartisan bill introduced by Republican Andy Barr and Democrat Angie Craig that could change the conversation around the November 12 hemp ban. We walk through what the bill actually does: raising the THC limit from the incoming 0.4mg total THC cap to 1% total THC by dry weight, which would keep THCA flower, most hemp edibles, and hemp vapes legal under a new national regulatory system. He also covers what the bill restricts, including a ban on synthetic cannabinoids like converted delta-8 and THCP, new national testing and labeling standards, a U.S. cultivation and processing requirement, and new federal taxes on retail sales and THC beverages.Shadd then gets into the harder question the industry isn’t talking about enough: whether the federal government actually has the enforcement capacity to make this framework real. He breaks down what enforcement would require, from landlords and local governments cracking down on unlicensed shops to distributors and online sellers being brought into compliance, and explains why that’s historically been something the federal government has left to states, most of which haven’t stepped up either. The episode lays out the range of outcomes, from a genuine regulated hemp market to a delay tactic that simply buys the unregulated market more time.#TDRCannabis #HempIndustry #LawfulHempProtectionAct #CannabisPolicy #HempBan #THC #CannabisReform #FederalRegulation #HempLaw #CannabisNews #CannabisIndustry Want to see more Cannabis Reform?🎬    • Cannabis Support Didn’t Drop — Here’s What...  🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

On this episode of TDR Cannabis in 5, powered by Flowhub, host Shadd Dales breaks down a new NuggMD poll, reported by Marijuana Moment, claiming that cannabis consumers’ support for Trump’s cannabis actions has dropped drastically. Dales walks through the actual numbers and argues the framing doesn’t hold up. The poll shows 48% approve or strongly approve of the administration’s cannabis actions, 40% are neutral, and only 13% disapprove, a landscape far from any kind of collapse. The comparison driving the headline is last quarter’s 73% approval figure, which came right after cannabis moved from Schedule I to Schedule III, a move separately polled at 83% support. Dales explains that approval spiking after a major reform and settling afterward isn’t the same as consumers turning on the administration.He also breaks down a separate data point the article blends in: 52.5% of respondents don’t think rescheduling will be finished by year end, while 47.5% think it will. Dales makes the case that approval of cannabis policy and confidence in government timelines are two different questions entirely, and conflating them creates a misleading narrative. The real takeaway, according to Dales, is that cannabis consumers still strongly support rescheduling and broader reform, they’re just realistic about how slowly the federal process tends to move.A sharp, data-first breakdown of a poll getting misread across cannabis media.#TDRCannabis #CannabisNews #Rescheduling #CannabisPolicy #MarijuanaMoment #NuggMD #CannabisReform #DEA #Trump #CannabisIndustryWant to see more Cannabis Reform?🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

On this episode of Trade to Black, presented by Flowhub, hosts Shadd Dales and Anthony Varrell open with the news that Vireo Growth (CSE: VREO) (OTCQX: VREOF) is acquiring cultivation, manufacturing, and retail operations from The Cannabist Company (Cboe CA: CBST) (OTCQX: CBSTF) across five states: Colorado, Illinois, Massachusetts, New Jersey, and West Virginia. The deal, worth up to $35 million, hands Vireo up to 25 dispensaries, a cultivation asset, and a production facility, pushing its national footprint to roughly 230 dispensaries across 15 states, second only to Trulieve (CSE: TRUL) (OTCQX: TCNNF). The guys break down how this fits into a run of ten acquisitions Vireo has made this year alone, and whether the pace is smart consolidation or something riskier. They also get into what’s happening with hemp in Florida, where businesses are watching a planned federal ban on THC products threaten an industry that’s become a major part of the state’s retail landscape, plus news out of Alabama, where officials are holding a public hearing this week on whether to reschedule marijuana at the state level in line with the federal move.Then in the second segment, Matthew “Whiz” Buckley, founder of Top Gun Options and former fighter pilot, joins the show to talk through last week’s big pharma acquisition news, Eli Lilly’s (NYSE: LLY) deal to acquire Atai Beckley (NASDAQ: ATAI). Buckley gives his read on the deal itself and whether the premium attached to it was enough.Like, subscribe, and leave your comments!#CannabisIndustry #TrumpAdministration #CannabisNews #MedicalMarijuana #AdultUseCannabis #MarijuanaMoment #HempIndustry #Florida #Alabama #ToddBlanche #EliLilly #AtaiBeckley #CannabisPolicyWant to see more Cannabis Reform?🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

On this episode of Trade to Black, presented by Flowhub, hosts Shadd Dales and Anthony Varrell sit down with Dan Karlin, Chief Medical Officer of Definium Therapeutics (NASDAQ: DFTX), to talk about where the company stands with DT-120, its pharmaceutically optimized LSD program for mental health disorders.Karlin walks through what the Trump administration’s April executive order supporting psychedelic research actually meant for the space, and why he sees it as validation for work Definium has been quietly building toward for over five years. The timing lines up with a bigger shift happening across the industry, including Eli Lilly’s move to acquire Definium competitor Atai Beckley just last week, a signal that big pharma is paying close attention to this category.The conversation gets into the phase three data behind DT-120, including a 17.6% change on the MADRS scale just one week after a single dose, with no adjuvant psychotherapy involved. They also cover the phase two results in generalized anxiety disorder, where a single treatment put roughly half of participants into full remission that held for three months. Karlin points out that no new drug has been approved for generalized anxiety disorder since 2007, which frames just how overdue this category is for something new.He goes as far as calling this potentially the biggest breakthrough in psychiatry in over 120 years, and lays out how Definium thinks about treatment going forward: monitoring patients after a dose and retreating only if symptoms return, rather than pushing a maintenance model. He also talks about where AI fits into their trial process for quality control and how the FDA relationship has evolved under the current regulatory environment.A grounded, detail-heavy conversation for anyone tracking the psychedelic medicine space and Definium Therapeutics specifically.#DefiniumTherapeutics #DFTX #PsychedelicStocks #PsychedelicMedicine #MentalHealthInnovation #Biotech #Psychiatry #ClinicalTrials #FDA #EliLilly #BigPharmaWant to see more Cannabis Reform?🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade to Black podcast presented by Flowhub, Shadd Dales and Anthony Varrell kick off the week — starting with Organigram (TSX: OGI / NASDAQ: OGI) and their latest business update. The company released new details on early Sanity platform performance and updated Canadian market‑share positioning, giving a clearer look at how they’re setting up for the next phase of growth.Then in Segment #1, Dr. Dan Karlin, Chief Medical Officer of Definium Therapeutics (NASDAQ: DFTX) joins the show.Dr. Karlin breaks down exactly where Definium stands in its current clinical trial program, why their data is considered among the strongest in the psychedelic space, and how the industry is lining up for potential FDA approvals and commercialization beginning in 2027. We also get his reaction to last week’s headline‑making acquisition involving Eli Lilly (NYSE: LLY) purchasing AtaiBeckley (NASDAQ: ATAI) — a move that signals growing interest from major pharmaceutical players in psychedelic therapeutics.For Segment #2 we bring in Michael Bronstein, President of the American Trade Association for Cannabis and Hemp, to walk through the updated regulatory timeline now that the DEA’s rescheduling hearing has concluded. Administrative Law Judge Derek C. Julius has set August 17 as the deadline for all final briefs. Michael explains what that date actually means, how the process unfolds after August 17, and whether an ALJ Recommended Decision could realistically arrive before the end of August.Like, subscribe and leave your comments!#CannabisIndustry #MSOS #CannabisStocks #CannabisNews #CannabisRescheduling #PsychedelicStocks #FDA #BigPharma #MentalHealth #Trump #ALJHearing #ALJTimeline #PsychedelicMedicine #DEARescheduling Want to see more Cannabis Reform?🎬    • Why Cannabis Companies Are Backing Trump |...  🎬    • The DEA Hearing Is Over. Now What? | TDR C...  🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

Cannabis companies are putting serious money behind federal reform—and Washington is paying attention.In the latest TDR Cannabis in 5, host Shadd Dales breaks down new federal campaign-finance records showing that major cannabis operators contributed a combined $11.5 million to America First Agriculture Action, a political action committee connected through its treasurer to Donald Trump’s main super PAC.The contributors included Trulieve Cannabis Corp. (NYSE: TRLV | CSE: TRUL | OTCQX: TCNNF), Curaleaf Holdings (TSX: CURA | OTCQX: CURLF) and Verano Holdings (Cboe Canada: VRNO | OTCQX: VRNOF), which each contributed $2.5 million.Vision Management Services, a subsidiary of Green Thumb Industries (CSE: GTII | OTCQX: GTBIF), also contributed $2.5 million. Arboretum Bidco, connected to AYR Wellness (CSE: AYR.A | OTCQX: AYRWF), added $1 million, while Ascend Wellness Holdings (CSE: AAWH.U | OTCQX: AAWH) contributed $500,000.What’s more interesting is the timing, and how the donations connect to the administration’s Schedule III push, and why cannabis companies appear ready to support whichever political infrastructure can finally deliver reform.After years of stalled banking legislation, continued 280E taxation and limited access to traditional capital markets, the industry is taking a more aggressive approach.The message coming from cannabis operators is becoming increasingly clear: stop waiting, engage directly and finish the job on federal reform.#Cannabis #CannabisReform #ScheduleIII #CannabisStocks #CannabisNews #FederalCannabis #280E #CannabisInvesting #Trump #CannabisReschedulingWant to see last week's recap?🎬    • The Political Fight for Cannabis Just Expl...  Want to see more Cannabis Reform?🎬    • The DEA Hearing Is Over. Now What? | TDR C...  🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

Washington’s fight over cannabis reform intensified this week as Senate Democrats revived full federal legalization immediately after the DEA’s historic rescheduling hearing concluded.In the latest Trade To Black Weekly Recap presented by FRE, host Shadd Dales breaks down why the timing of the Cannabis Administration and Opportunity Act appears aimed as much at the midterm elections as passing legislation—and how political competition could increase pressure on the Trump administration to finalize Schedule III.The episode also reviews the ALJ hearing record, where the federal government strongly defended rescheduling while several opposition witnesses struggled to challenge the scientific and legal case for moving marijuana to Schedule III.Beyond Washington, the federal hemp industry is approaching a November 12 deadline that could remove most intoxicating hemp products from the legal market. Carriers, payment processors and e-commerce platforms may begin restricting businesses before the law officially changes.In psychedelics, a major acquisition was announced this week. Eli Lilly (NYSE: LLY) agreed to acquire AtaiBeckley (NASDAQ: ATAI) in a deal valued at approximately $2.8 billion. The acquisition also places greater attention on Compass Pathways (NASDAQ: CMPS) and Definium Therapeutics (NASDAQ: DFTX) as major independent psychedelic developers. In cannabis, Curaleaf (TSX: CURA | OTCQX: CURLF) and Cannara Biotech (TSX: LOVE | OTCQX: LOVFF), entered into an agreement, plus a new wellness product from MariMed (CSE: MRMD | OTCQX: MRMD) and a customer-acquisition campaign from Tilray Brands (NASDAQ: TLRY | TSX: TLRY) through BrewDog. Weekly recap is now live. Like, subscribe, and leave your comments!#Cannabis #CannabisReform #ScheduleIII #CannabisNews #Psychedelics #HempIndustry #CannabisStocks #PsychedelicStocks #FederalCannabis #CannabisRescheduling Want to see more Cannabis Reform?🎬    • The DEA Hearing Is Over. Now What? | TDR C...  🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In the latest TDR Cannabis in Five, host Shadd Dales breaks down what happens now that the DEA’s Administrative Law Judge hearing on cannabis rescheduling has officially wrapped.The testimony is complete, the record is closed, and the next key date is August 17. That is when final briefs are due and the record is formally served. It is not the date Judge Derek C. Julius issues his Recommended Decision, and that distinction matters when trying to understand the real timeline.Shadd walks through each step that follows: the ALJ drafting period, the mandatory 25-day waiting period after the recommendation is served, and the DEA’s publication window before a Final Rule can be issued.The episode also looks back at the hearing record itself. The government stayed focused on the statutory and scientific case for Schedule III, while several opposition witnesses spent time on workplace testing, personal stories and broader policy issues that were outside the central scheduling question.The final portion covers the legal challenges expected after the recommendation, including the difference between the current medical cannabis lawsuit involving treaty authority and any future challenge to broader rescheduling under the Administrative Procedure Act.For now, August 17 is the next public deadline. After that, the timing depends on how long Judge Julius takes to complete his recommendation.#Cannabis #ScheduleIII #DEA #CannabisNews #CannabisStocks #FederalCannabis #CannabisInvesting #280E #MarijuanaNews #TDRCannabisWant to see more Cannabis Reform?🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

Federal cannabis reform is quickly becoming one of the biggest political issues in Washington.In the latest TDR Cannabis in Five, host Shadd Dales breaks down new reporting from Marijuana Moment after Senate Democrats reintroduced legislation that would fully legalize marijuana under federal law—just as the Trump administration continues moving forward with its effort to reschedule cannabis to Schedule III.The episode explains what is included in the Cannabis Administration and Opportunity Act, how it differs from the administration’s current rescheduling approach, and why both parties are now advancing very different visions for federal cannabis reform.Shadd also looks at the political timing behind the legislation, why cannabis has become a bipartisan issue heading into the midterm election cycle, and what these competing proposals could mean for cannabis operators, investors, patients, and the broader industry.Whether reform ultimately comes through Congress, the administrative process, or a combination of both, cannabis policy is now moving on multiple fronts at the same time. This episode breaks down where things stand today and why Washington’s latest moves could shape the next phase of federal cannabis reform.#Cannabis #CannabisLegalization #ScheduleIII #CannabisNews #MarijuanaNews #FederalCannabis #CannabisStocks #CannabisInvesting #Politics #CannabisRescheduling #ALJHearingWant to see more Cannabis Reform?🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

Anti-cannabis groups are making a new legal push to keep marijuana companies out of the courtroom—and the implications could extend well beyond this latest lawsuit.In the latest TDR Cannabis in Five, host Shadd Dales breaks down new reporting from Marijuana Moment after prohibition-focused organizations argued that regulated cannabis companies should not be allowed to intervene in the legal challenge surrounding federal cannabis rescheduling.The episode explains why opponents believe the cannabis industry has no legal standing to defend the proposed rule, what “intervention” means in this case, and why the issue could become an important part of the broader rescheduling process.Shadd also looks at the legal arguments being presented, how administrative law typically treats regulated industries, and why this latest filing comes just as the DEA’s Administrative Law Judge hearing has concluded and attention shifts toward the next phase of federal cannabis reform.The outcome won’t determine whether cannabis is ultimately rescheduled, but it could influence who gets a voice in one of the industry’s most closely watched legal battles. As the court considers the latest filings, this is another development worth following as the federal process continues.#Cannabis #ScheduleIII #CannabisNews #MarijuanaNews #FederalCannabis #CannabisStocks #CannabisInvesting #DEA #CannabisReform #TDRCannabisWant to see more Cannabis Reform?🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black podcast presented by Flowhub, host Anthony Varrell welcomes two heavyweight guests for a deep dive into cannabis lending, short selling, and the future of the hemp industry.First, Adam Stettner, CEO of FundCanna, returns with exclusive market-specific lending data from across the cannabis industry. Adam and Anthony break down what operators are borrowing for, which state markets are showing strength, and what the data signals heading into Q2 cannabis earnings season. Adam also explains the mechanics of an early repayment cycle in cannabis lending — what it means when operators pay down debt ahead of schedule, why it's happening now, and what it reveals about operator health and cash flow in a post-Schedule III environment.Then, famed short seller and activist investor Marc Cohodes joins the show for a wide-ranging conversation on the federal hemp ban taking effect November 12, his continued focus on Glass House Brands (NYSE: GLAS), and how short sellers can distort markets — including the mechanics of naked shorting, spoofing, and manipulation tactics that plague small-cap stocks. Marc and Anthony also preview Glass House's upcoming bell-ringing ceremony at the New York Stock Exchange, a symbolic milestone as the second U.S. plant-touching cannabis operator to uplist to a senior exchange.From cannabis capital markets and lending trends to hemp regulation, short seller tactics, and NYSE uplistings, this episode covers the stories shaping cannabis investing in 2026.#TradeToBlack #Flowhub #Cannabis #CannabisNews #CannabisInvesting #CannabisStocks #CannabisIndustry #FundCanna #AdamStettner #MarcCohodes #GlassHouseBrands #NYSE #GLAS #Hemp #HempBan #ScheduleIII #CannabisLending #ShortSelling #CapitalMarkets #CannabisFinance #MarketUpdate #CannabisPolicy #Investing #SmallCapStocksWant to see more Cannabis Reform?🎬    • Are THC Drinks Replacing Alcohol? | TDR Ca...  🎬    • DEA Hearing Ends: What Happens Next? | TDR...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

THC-infused beverages are becoming one of the fastest-growing segments of the cannabis industry, and new research suggests they’re doing more than offering consumers another option—they may also be changing drinking habits.In the latest TDR Cannabis in Five, host Shadd Dales breaks down new survey data and research highlighted by Marijuana Moment, showing that many THC beverage consumers report drinking less alcohol, while some say they’ve stopped drinking altogether.The episode also looks at multiple studies examining cannabis beverages through the lens of harm reduction, why researchers believe they may help reduce alcohol consumption, and how these findings connect to testimony presented during the DEA’s Administrative Law Judge hearing on cannabis rescheduling.Shadd also covers the growing debate surrounding the proposed federal restrictions on hemp-derived THC products, how consumers say they would respond if those products disappear from the market, and why this issue extends beyond cannabis policy into broader public health discussions.As the federal rescheduling process continues, conversations around alcohol substitution, harm reduction and cannabis beverages are becoming a larger part of the policy debate. This episode breaks down the latest research, the regulatory backdrop, and where this conversation stands today.#Cannabis #THCBeverages #CannabisNews #MarijuanaNews #HarmReduction #CannabisInvesting #CannabisStocks #ScheduleIII #Alcohol #CannabisIndustry #ALJHearing #CannabisReschedulingWant to see more Cannabis Reform?🎬    • DEA Hearing Ends: What Happens Next? | TDR...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In the latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down the final day of the Administrative Law Judge hearing — a day that wrapped up surprisingly early at 12 PM Eastern and ended without any last‑minute fireworks. TDR Washington Correspondent Gretchen Gailey will log on to provide the latest developments on the last day of the hearing that included no dramatic exchanges or late‑breaking developments.With regards toyesterday’s testimony, Nebraska, Idaho, and Indiana set the tone. The states brought forward two witnesses to reinforce their opposition to rescheduling. The first was Dr. Deepak D’Souza, a VA psychiatrist and Yale School of Medicine professor. The second witness, Sheriff William Honsal of Humboldt County, challenged the idea that legalization is the fastest way to eliminate the illicit market. With the hearing now officially closed, the next step is straightforward: we wait. The Administrative Law Judge will issue recommendations to the DEA, and those findings will tell what comes next in federal cannabis policy.#TradeToBlack #Flowhub #CannabisNews #ALJHearing #CannabisPolicy #CannabisInvesting #FederalCannabis #ShaddDales #RegulatoryUpdate #CannabisIndustryWant to see more Cannabis Reform?🎬    • DEA Hearing Ends: What Happens Next? | TDR...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

The DEA’s Administrative Law Judge hearing has officially wrapped after more than two weeks of testimony, closing one of the most closely watched proceedings in the history of U.S. cannabis policy.In the latest TDR Cannabis in Five, host Shadd Dales recaps the biggest moments from the hearing, what stood out over 17 days of testimony, and where the federal cannabis rescheduling process goes from here.The episode covers the federal government’s decision to defend its proposed move to Schedule III, the FDA’s medical-use determination, the arguments presented by prohibition-focused organizations, and why many of those groups are already laying the groundwork for future legal challenges.Shadd also discusses the Department of Justice’s response to efforts aimed at delaying the process, the significance of the hearing record now that testimony has concluded, and why the structure of the proceeding could become an important issue if the final rule is challenged in federal court.With testimony now complete, attention turns to the Administrative Law Judge’s recommended decision and, ultimately, the DEA Administrator. This episode recaps the key developments from the hearing, the arguments that shaped the record, and where the federal rescheduling process stands today.#Cannabis #ScheduleIII #DEA #CannabisNews #FederalCannabis #CannabisStocks #CannabisInvesting #280E #MarijuanaNews #CannabisReschedulingWant to see more Cannabis Reform?🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  🎬    • Federal Hemp Ban: Washington Isn’t Aligned...  🎬    • Pete Sessions: Cannabis Makes You A Loser ...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In the latest Trade To Black podcast presented by FlowHub, hosts Shadd Dales and Anthony Varrell — fresh back from Arlington, Virginia — jump into an already fast‑moving week in the cannabis industry. The episode opens with developments from Curaleaf (TSX: CURA, OTCQX: CURLF), which has released two announcements already this week.First, Curaleaf has become the first company to secure registration in Spain for standardized THC‑dominant and CBD‑dominant cannabis preparations, enabling hospital‑dispensed medical cannabis under Spain’s evolving national medical framework.Second, Curaleaf announced a long‑term international supply agreement with Cannara Biotech (TSX: LOVE, OTCQX: LOVFF). The agreement positions Cannara as a key bulk‑flower supplier for Curaleaf’s expanding global medical markets and carries a potential value of up to C$21 million — a meaningful step in Cannara’s international expansion strategy.In Segment Two, Michael Bronstein returns for his weekly Insiders Edge segment, presented by the American Trade Association for Cannabis & Hemp. With the Administrative Law Judge hearing entering its second‑last day, testimony from Nebraska, Idaho, and Indiana is underway. Bronstein breaks down the major talking points expected from each state and outlines what cannabis investors should be watching as the hearing moves toward the finish line and prepares to wrap up.LIke, subscribe, and leave your comments!#CannabisNews #Curaleaf #CannaraBiotech #TradeToBlack #CannabisInvesting #ALJHearing #CannabisPolicy #CannabisIndustry #MSOS #CannabisRescheduling #CannabisStocks #Cannabis #marijuanareviews Want to see more Cannabis Reform?🎬    • 280E Tax Fight: IRS Pushes Back on Cannabi...  🎬    • Federal Hemp Ban: Washington Isn’t Aligned...  🎬    • Pete Sessions: Cannabis Makes You A Loser ...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

Can cannabis companies really go back and reclaim millions of dollars paid under Section 280E? That question is becoming one of the biggest tax battles the industry has ever faced.In the latest TDR Cannabis in Five, host Shadd Dales breaks down why the IRS is pushing back against amended tax returns filed by several of the industry’s largest multi-state operators following the move of medical cannabis to Schedule III.The episode looks at how companies including Trulieve (NYSE: TRLV), Verano (Cboe Canada: VRNO | OTCQX: VRNOF), Curaleaf (TSX: CURA | OTCQX: CURLF), TerrAscend (TSX: TSND | OTCQX: TSNDF) and Ascend Wellness (CSE: AAWH.U | OTCQX: AAWH) have approached 280E refund claims, why some companies have already received refunds, and why the IRS is now taking legal action to recover money it says should never have been paid.Shadd also explains why this issue isn’t as simple as Schedule III eliminating 280E. While future tax treatment may change for qualifying medical cannabis businesses, the IRS argues that previous tax years remain governed by the law that existed at the time.With court cases now underway and Treasury guidance still expected, this is becoming one of the most closely watched legal and financial stories in the cannabis industry.#Cannabis #280E #IRS #ScheduleIII #CannabisStocks #CannabisNews #MSOs #CannabisInvesting #FederalCannabis #TDRCannabis #Trulieve #MSOS #CuraleafWant to see more Cannabis Reform?🎬    • Federal Hemp Ban: Washington Isn’t Aligned...  🎬    • Pete Sessions: Cannabis Makes You A Loser ...  🎬    • What This Cannabis Poll Really Tells Us | ...  🎬    • Treasury Takes Center Stage | TDR Cannabis...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

TDR Trade to Black presented by Flowhub is LIVE on the road today from Arlington, Virginia, broadcasting inside Jushi Holdings (OTCQB:JUSHF) at their BEYOND / HELLO dispensary — the only legal medical cannabis retailer within a 20–30 minute radius due to Virginia’s unique Health Service Area (HSA) structure.Hosts Shadd Dales and Anthony Varrell sit down with Jushi’s leadership — Chief Strategy Officer Trent Woloveck, Chief Creative Director Andreas Neumann, and Stacey Rusch, founder of Stacey Rusch Lifestyle and cast member of The Real Housewives of Potomac. The team breaks down Jushi’s exclusive HSA II territory, the company’s Northern Virginia footprint, and how the state is preparing for its transition from medical to adult‑use on July 1, 2027.We also cover Jushi’s cultivation expansion, including the 93,000 sq ft Manassas facility and the upcoming 65,000 sq ft buildout — giving a true boots‑on‑the‑ground look at why Virginia is widely viewed as a sleeping giant in the cannabis industry.PLUS — TDR Washington Correspondent Gretchen Gailey joins the show to tee up tomorrow’s ALJ hearing, where Nebraska, Idaho, and Tennessee will deliver testimony as federal cannabis policy continues to evolve.A full on‑location breakdown of the Virginia market and why this state is positioned to become one of the most important cannabis opportunities in the country.#JushiHoldings #VirginiaCannabis #Cannabis #CannabisStocks #Flowhub #CannabisNews #AdultUse2027 #RealHousewivesOfPotomac #CannabisPolicy #CannabisIndustry #CannabisReschedulingWant to see last week's recap?🎬    • DEA Rescheduling, SAFE Banking & More | TT...  Want to see more Cannabis Reform?🎬    • Federal Hemp Ban: Washington Isn’t Aligned...  🎬    • Pete Sessions: Cannabis Makes You A Loser ...  🎬    • What This Cannabis Poll Really Tells Us | ...  🎬    • Treasury Takes Center Stage | TDR Cannabis...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

Former Homeland Security Secretary Chad Wolf is weighing in on one of the cannabis industry’s biggest debates, and his comments add another layer to the growing uncertainty surrounding hemp-derived THC products.In the latest TDR Cannabis in Five presented by FlowHub, host Shadd Dales breaks down the latest reporting from Marijuana Moment and explains why Washington appears divided ahead of the proposed November 12 federal hemp deadline.On one side, Chad Wolf is urging Congress to leave the planned restrictions in place, arguing that intoxicating hemp products pose public safety and national security concerns. On the other, the Trump administration and lawmakers from both parties have signaled support for a regulated framework that would preserve many hemp-derived products while introducing clearer rules around labeling, taxation and consumer protections.Shadd also looks at why this debate extends well beyond hemp. The outcome could affect CBD products, hemp-derived beverages, retailers, growers and the broader cannabis industry. With proposals already circulating in Congress, the next few months could determine whether lawmakers move forward with a ban or pivot toward regulation instead.As always, TDR Cannabis in Five focuses on the facts, the policy developments, and what they could mean for investors following the cannabis sector.#Cannabis #Hemp #CBD #THC #CannabisNews #MarijuanaNews #CannabisInvesting #CannabisStocks #FederalCannabis #CannabisIndustry #HempIndustry Want to see last week's recap?🎬    • DEA Rescheduling, SAFE Banking & More | TT...  Want to see more Cannabis Reform?🎬    • Pete Sessions: Cannabis Makes You A Loser ...  🎬    • What This Cannabis Poll Really Tells Us | ...  🎬    • Treasury Takes Center Stage | TDR Cannabis...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black Weekly Recap by FRE, host Shadd Dales breaks down another busy week across the cannabis and psychedelic sectors.The DEA’s Administrative Law Judge hearing entered its second week in Arlington, Virginia, where one of Smart Approaches to Marijuana’s key witnesses acknowledged under cross-examination that cannabis meets the statutory definition for Schedule III. The Department of Justice also pushed back against the latest legal effort to halt federal cannabis rescheduling, while the American Bankers Association renewed its call for Congress to pass the SAFE Banking Act.On the state level, Massachusetts officially certified a ballot initiative that would repeal the state’s adult-use cannabis market, while Texas lawmakers signaled another push to ban hemp-derived THC products when the legislature reconvenes.On the company front, Glass House Brands (NYSE: GLAS) completed its first international sale, Cannara Biotech (TSXV: LOVE | OTCQX: LOVFF) secured exclusive Canadian rights to Blue River’s live rosin technology, and Vireo Growth (CSE: VREO | OTCQX: VREOF) announced a new market-making agreement.In psychedelics, Atai Beckley (NASDAQ: ATAI) reached an important milestone after dosing the final patient in its Phase 2b depression trial, with topline data expected later this year.Host Shadd Dales breaks down the biggest developments from the week, what stood out from the ALJ hearing, and why investors continue watching both policy and company news as the cannabis and psychedelic sectors continue to evolve.Cannabis #CannabisNews #CannabisStocks #ScheduleIII #SAFEBanking #Psychedelics #MarijuanaNews #CannabisIndustry #DEA #ALJHearing #ALJ #CannabisRescheduling #DOJ #DEAWant to see more Cannabis Reform?🎬    • What This Cannabis Poll Really Tells Us | ...  🎬    • Treasury Takes Center Stage | TDR Cannabis...  🎬    • Inside SAM’s ALJ Testimony | TDR Cannabis ...  🎬    • Cannabis Banking Back In Focus | TDR Canna...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In the latest TDR Cannabis in Five, host Shadd Dales takes a closer look at comments made by Congressman Pete Sessions during a recent House Rules Committee hearing after he claimed that “using marijuana will make you a loser in life.”The remarks quickly drew attention across the cannabis industry and reignited a familiar debate around cannabis stigma, federal reform, and whether some lawmakers are still relying on decades-old narratives despite significant changes in public opinion and scientific research.Shadd breaks down what Congressman Sessions said, why the comments have generated criticism, and how they compare to today’s cannabis landscape. The episode also looks at Sessions’ long history of opposing cannabis reform, including his previous role on the House Rules Committee, where he repeatedly blocked cannabis-related amendments from reaching the House floor.The conversation also examines whether there is any evidence linking Sessions’ position to alcohol industry donations, using publicly available campaign finance records, and discusses why that narrative doesn’t appear to hold up.As more than half the country now operates legal cannabis programs and millions of Americans use cannabis medically or recreationally under state law, the debate continues over whether Washington’s approach reflects today’s reality.#Cannabis #CannabisNews #CannabisReform #Marijuana #MarijuanaNews #FederalCannabis #CannabisPolicy #CannabisIndustry #CannabisStocks #Cannabis #MarijuanaWant to see more Cannabis Reform?🎬    • What This Cannabis Poll Really Tells Us | ...  🎬    • Treasury Takes Center Stage | TDR Cannabis...  🎬    • Inside SAM’s ALJ Testimony | TDR Cannabis ...  🎬    • Cannabis Banking Back In Focus | TDR Canna...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te..

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down a new NuggMD poll asking whether Americans believe the Trump administration will complete federal cannabis rescheduling before the end of the year.At first glance, the poll looks pretty straightforward. Fifty-two percent of respondents don’t think rescheduling gets done this year, while 48% believe it will. But as Shadd points out, the bigger takeaway isn’t necessarily the split itself—it’s what those numbers say about how the public views the federal process.The reality is most Americans understand legalization, but far fewer understand rescheduling. Between the DEA, HHS, FDA, DOJ, the Administrative Law Judge hearing and the federal rulemaking process, it’s a complicated system that most people simply don’t follow.That’s what makes this poll interesting.Shadd explains why the results appear to reflect uncertainty around the process—not necessarily opposition to cannabis reform. He also looks at what national polling continues to show about legalization support across the country and why public sentiment remains one of the strongest tailwinds for the industry, regardless of how long the administrative process ultimately takes.It’s a timely conversation as the ALJ hearing continues and investors look ahead to the next phase of federal cannabis reform.#Cannabis #CannabisNews #CannabisStocks #ScheduleIII #CannabisReform #Marijuana #MSOs #CannabisInvesting #DEA #TDRCannabis #CannabisLegalization #CannabisRescheduling #Trump #TrumpAdministration Want to see more Cannabis Reform?🎬    • Treasury Takes Center Stage | TDR Cannabis...  🎬    • Inside SAM’s ALJ Testimony | TDR Cannabis ...  🎬    • Cannabis Banking Back In Focus | TDR Canna...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down a story that’s quickly becoming one of the biggest cannabis policy battles to watch this year.Massachusetts is officially on track for a November ballot initiative that would repeal the state’s adult-use cannabis market. But just as the campaign secured enough signatures to qualify, a formal legal challenge was filed that could still knock the measure off the ballot.Shadd walks through how the campaign reached the signature threshold by just 122 signatures, why the certification is now being challenged, and what the Massachusetts State Ballot Law Commission will be looking at during its upcoming hearings.The episode also explains what the proposed initiative would actually do. While medical cannabis would remain legal, adult-use retail sales and home cultivation would be eliminated. One version of the proposal would also introduce new THC potency limits for certain medical cannabis products, raising additional questions for patients and operators.It’s another reminder that cannabis reform doesn’t always move in one direction. While some states continue expanding access, others are debating whether to roll parts of legalization back.As the legal challenge unfolds, all eyes will be on Massachusetts to see whether voters ultimately get the final say this November.#Cannabis #CannabisNews #Massachusetts #CannabisReform #Marijuana #CannabisPolicy #AdultUse #CannabisIndustry #Legalization #TDRCannabisWant to see more Cannabis Reform?🎬    • What This Cannabis Poll Really Tells Us | ...  🎬    • Treasury Takes Center Stage | TDR Cannabis...  🎬    • Inside SAM’s ALJ Testimony | TDR Cannabis ...  🎬    • Cannabis Banking Back In Focus | TDR Canna...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black presented by Flowhub, hosts Shadd Dales and Anthony Varrell welcome back Adam Stettner, CEO of FundCanna, for his weekly appearance as several new cannabis policy stories continue to develop across the United States.First topic is about Virginia, where lawmakers are working to address concerns after recent legislation may have unintentionally repealed certain marijuana penalties, creating new questions about how the law will be interpreted moving forward.From there, attention turns to North Carolina, where Governor Josh Stein and House Speaker Destin Hall remain divided over cannabis legalization, offering another example of how differently states continue to approach reform.Plus news out of Wyoming, where Attorney General Bridget Hill announced the state will not automatically follow any future federal cannabis rescheduling, even if changes are made at the federal level.And finally, does this surprise you? A new poll is suggesting many cannabis consumers don’t expect the Trump administration to complete the federal rescheduling process this year, despite the ongoing DEA Administrative Law Judge hearing.Like, subscribe, and leave your comments!#Cannabis #CannabisNews #CannabisIndustry #CannabisBusiness #ScheduleIII #CannabisStocks #MedicalCannabis #CannabisPolicy #MarijuanaNews #TradeToBlack #trumpadministration Want to see more Cannabis Reform?🎬    • Treasury Takes Center Stage | TDR Cannabis...  🎬    • Inside SAM’s ALJ Testimony | TDR Cannabis ...  🎬    • Cannabis Banking Back In Focus | TDR Canna...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

n our latest TDR Cannabis in Five, host Shadd Dales looks at what comes after the DEA’s Administrative Law Judge hearing and why the next major developments could come from the U.S. Treasury.As the ALJ hearing moves toward its conclusion, attention is beginning to shift from the courtroom to federal agencies responsible for implementing cannabis policy. One of the biggest questions is how Treasury will handle taxes, banking and financial guidance if cannabis reform continues moving forward.Shadd breaks down why Treasury’s upcoming decisions could be significant for operators, investors and lenders, including what to watch for regarding IRS guidance on Section 280E, FinCEN banking guidance, compliance requirements, access to financial services and the broader financial framework surrounding the cannabis industry.The episode also discusses how future Treasury guidance could affect cash flow, lending, reporting requirements, banking relationships and other practical issues businesses have faced for years.With the ALJ hearing nearing completion, the focus is beginning to shift toward implementation—and what federal agencies do next could have a meaningful impact on how the industry operates going forward.#Cannabis #CannabisNews #ScheduleIII #280E #CannabisRescheduling #CannabisIndustry #CannabisBusiness #MedicalCannabis #DEA #CannabisStocks #TDRCannabisInFiveWant to see more Cannabis Reform?🎬    • Inside SAM’s ALJ Testimony | TDR Cannabis ...  🎬    • Cannabis Banking Back In Focus | TDR Canna...  🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black presented by Flowhub, hosts Shadd Dales and Anthony Varrell cover two stories that highlight the cannabis industry facing big changes.First, Omar Khan, Chief Communications & Public Affairs Officer from High Tide (NASDAQ: HITI), joins us to discuss Ontario’s new rules that now hold landlords accountable if they knowingly lease commercial properties to illegal cannabis operators. We discuss what changed on July 1, why legal retailers have been pushing for stronger enforcement for years, and what this could mean for the illicit cannabis market across Ontario.Fines could range anywhere from $10,000 to $250,000 for individuals and up to $1 million for corporations.Then, in our weekly Vantage Standard segment presented by Vantage, attorney John Malone from J. Malone PC joins the show to talk about what happens after cannabis rescheduling.Much of the industry’s attention has been on the DEA’s Administrative Law Judge hearing, but what comes next could be just as important. John walks through some of the practical questions operators may face if broader reform moves forward, including DEA registrations, state versus federal regulations, supply chain challenges, California’s cultivation advantage, export opportunities, and why pharmaceutical manufacturing standards may become increasingly important.As the industry prepares for potential federal changes, one question continues to surface: is the regulatory framework ready for what comes next?#Cannabis #CannabisNews #CannabisIndustry #CannabisBusiness #ScheduleIII #MedicalCannabis #CannabisStocks #DEA #CannabisRegulation #ALJHearing #CannabisReschedulingWant to see more Cannabis Reform?🎬    • Inside SAM’s ALJ Testimony | TDR Cannabis ...  🎬    • Cannabis Banking Back In Focus | TDR Canna...  🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales recaps one of the most anticipated days of the DEA’s Administrative Law Judge hearing as Smart Approaches to Marijuana (SAM) presented its case against federal cannabis rescheduling.Shadd breaks down the testimony from Dr. Bertha Madras, a longtime DEA witness and Harvard psychobiology professor, and explains why much of Monday’s testimony focused on broader public policy issues rather than the legal standard the Administrative Law Judge has been tasked with deciding.The episode also looks at one of the biggest moments of the day—when Dr. Madras acknowledged that cannabis fits the definition of Schedule III when asked directly during cross-examination by the DEA.Shadd also reviews why the government kept its cross-examination brief, how the 2023 HHS recommendation changed the framework for evaluating accepted medical use, and what stood out inside the courtroom from Washington correspondent Gretchen Gailey.With the hearing continuing this week, this episode separates what was actually argued inside the courtroom from much of the reaction circulating across social media and explains the biggest takeaways from another important day in the federal rescheduling process.#Cannabis #CannabisNews #ScheduleIII #DEA #MedicalCannabis #CannabisIndustry #CannabisStocks #MarijuanaNews #CannabisInvesting #CannabisRescheduling #ALJ #ALJHearing Want to see more Cannabis Reform?🎬    • Cannabis Banking Back In Focus | TDR Canna...  🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In today’s Trade To Black podcast presented by Flowhub, Shadd Dales and Anthony Varrell react to fresh movement out of Washington after the American Bankers Association sent a letter to House and Senate leaders urging them to pass SAFER Banking. We’ve seen letters like this before, but this one lands at a moment where the cannabis industry is on the cusp of major reform with the ongoing ALJ hearing and everything else happening federally. Plus, Hirsch Jain, Founder of Ananda Strategy, joins the show to break down what’s happening across the South. Virginia just passed adult‑use cannabis. Georgia is expanding its medical market. Texas is quietly positioned for growth with patient numbers climbing and lawmakers signaling openness to broader reform. Louisiana continues to run one of the strongest medical programs in the region. And Arkansas — surprisingly — has more cannabis users per capita than Florida, which says a lot about how engaged that market already is.We also cover the Supreme Court’s unanimous ruling on cannabis users and gun rights. The Court made it clear that cannabis use alone isn’t enough to block someone from owning a firearm. Millions of Americans have avoided medical programs because they didn’t want to risk their gun rights. That barrier just changed, and it could boost patient numbers across medical states.Banking pressure in Washington, major state movement, and a Supreme Court decision — all hitting at once. #CannabisNews #SAFERBanking #AmericanBankersAssociation #CannabisBanking #SouthernCannabis #MedicalCannabis #GunRights #SCOTUS #TradeToBlack #FlowhubWant to see more Cannabis Reform?🎬    • Cannabis Banking Back In Focus | TDR Canna...  🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell bring you inside the most consequential week in federal cannabis policy — live from the front lines.First, Gretchen Gailey joins the show live from Arlington, Virginia, where the DEA Administrative Law Judge hearing continues with Smart Approaches to Marijuana (SAM) presenting its testimony today. Gretchen provides a firsthand account from inside the hearing room — how SAM is framing its case against rescheduling, how the government is responding on cross-examination, and what the ALJ appears focused on as the proceeding moves toward its July 15 conclusion.Then, Michael Bronstein, President of the American Trade Association for Cannabis & Hemp (ATACH), returns for a full debrief on the hearing's key takeaways — including the FDA's landmark under-oath acknowledgment of cannabis's accepted medical uses, the government witnesses' testimony comparing cannabis favorably to alcohol and opioids, and how the evidentiary record is shaping up.Finally, the guys break down the DOJ's brief filed Friday in response to the consolidated lawsuit challenging medical rescheduling. The government's response dismantles the standing arguments from NDASA and MMJ International, calling their claimed injuries "pocketbook interests" built on "generalized speculation" — and arguing the challengers "come nowhere near" the standard required for a stay. What does the filing signal about the strength of the legal challenge, and could the D.C. Circuit's ruling arrive before the hearing concludes?Two tracks. One outcome. The future of federal cannabis policy is being written this week.#Cannabis #CannabisNews #Rescheduling #DEA #DOJ #FDA #CannabisPolicy #FederalCannabis #MedicalCannabis #CannabisIndustry #TradeToBlack #Flowhub #ATACH #MichaelBronstein #GretchenGailey #ALJHearing #CannabisRescheduling #CannabisReform #MarijuanaNews #CannabisStocks #CannabisInvesting #SAM #DCCircuit #CannabisLegalization #CannabisUpdatesWant to see last week's recap?🎬    • ALJ: What Investors Learned This Week | TT...  Want to see more Cannabis Reform?🎬    • Cannabis Banking Back In Focus | TDR Canna...  🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down one of the biggest takeaways from this week’s DEA Administrative Law Judge hearing: the federal conversation around cannabis is becoming much more focused on medicine.For the first time during the hearing, the FDA publicly acknowledged under oath that cannabis has accepted medical uses while also comparing its safety profile to alcohol and opioids. The testimony offered new insight into how federal health officials are evaluating cannabis as the rescheduling process continues.Shadd also explains why this matters beyond Schedule III. As regulators, healthcare providers and policymakers continue discussing where cannabinoids fit into modern medicine, attention is increasingly shifting toward pharmaceutical-grade products, standardized dosing, physician oversight and value-based care.The episode also looks at how companies working in the cannabinoid medicine space could fit into that changing healthcare landscape, why consistency and clinical data matter, and what some of the early lessons from cannabinoid pilot programs may tell us moving forward.As the ALJ hearing continues, one theme is becoming increasingly clear: the conversation is no longer centered solely on legalization. It’s increasingly becoming about where cannabinoids fit inside the U.S. healthcare system, and how that transition could change the next phase of the industry.#Cannabis #MedicalCannabis #Cannabinoids #CBD #ScheduleIII #CannabisNews #Healthcare #CannabisIndustry #DEA #TDRCannabisInFive #ALJHearing #CannabisReschedulingWant to see last week's recap?🎬    • ALJ: What Investors Learned This Week | TT...  Want to see more Cannabis Reform?🎬    • Cannabis Banking Back In Focus | TDR Canna...  🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black Weekly Recap by FRE, host Shadd Dales breaks down one of the busiest weeks across cannabis and psychedelics.The first week of the DEA’s Administrative Law Judge hearing is now complete, and the federal government spent the week defending the scientific and legal basis for moving the broader cannabis plant to Schedule III. Shadd recaps the biggest moments from Arlington, Virginia, including key testimony, what stood out during the government’s case, and why the hearing matters for cannabis investors.The recap also covers several major industry developments. Trulieve Cannabis (NYSE: TRLV) continued building momentum following its NYSE debut as CEO Kim Rivers announced plans to end the remainder of her automatic stock sale program. Georgia officially expanded its medical cannabis program, while Virginia moved another step closer toward launching regulated adult-use sales.On the corporate side, TerrAscend (TSX: TSND | OTCQX: TSNDF) announced another strategic acquisition in New Jersey, Tilray Brands (NASDAQ: TLRY | TSX: TLRY) strengthened its medical cannabis platform through the acquisition of HelloMD, Village Farms International (NASDAQ: VFF | TSX: VFF) highlighted continued growth in Europe, and Helus Pharma (NASDAQ: HELP) provided an update on its late-stage psychedelic development program.From the ALJ hearing to Georgia, Virginia, M&A, medical cannabis, and psychedelics, this week’s recap covers the key stories of the week. #Cannabis #CannabisNews #ScheduleIII #CannabisStocks #MSOS #MedicalCannabis #DEA #CannabisInvesting #CannabisIndustry #TradeToBlackWant to see more Cannabis Reform?🎬    • Cannabis Banking Back In Focus | TDR Canna...  🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales marks America’s 250th birthday by looking at how cannabis has been part of the country’s story for centuries — and why today’s reform efforts feel especially timely.Long before prohibition, hemp was an important part of the American economy. Cannabis-based medicines were once sold in pharmacies across the country before decades of federal prohibition changed the industry’s direction.Fast forward to today, and cannabis is once again at the center of major policy discussions. With the DEA’s rescheduling process underway, more states modernizing their laws, and medical research gaining momentum, this episode puts today’s cannabis headlines into historical context.Rather than focusing on predictions, Shadd walks through the key moments that shaped cannabis policy in America — from the founding era and prohibition to state medical programs and the federal reforms taking shape today.As the United States celebrates 250 years of history, it’s also a chance to look at how one of the country’s oldest crops has found its way back into the national conversation through science, medicine, and public policy.#Cannabis #CannabisHistory #CannabisReform #ScheduleIII #MedicalCannabis #FederalCannabis #CannabisNews #FourthOfJuly #America250 #TDRWant to see more Cannabis Reform?🎬    • Cannabis Banking Back In Focus | TDR Canna...  🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales recaps the biggest themes to emerge from this week’s DEA Administrative Law Judge hearing and explains why many investors are beginning to focus on what the process could mean as it moves toward its conclusion.Rather than reacting to individual headlines, the episode looks at the structure of the hearing itself, the role of the DEA as the proponent of the proposed Schedule III rule, and the legal questions the ALJ is ultimately being asked to consider.Shadd also discusses the arguments presented during the hearing, how they fit within the Administrative Procedure Act, and why the scientific record submitted by the Department of Health and Human Services continues to play a central role in the proceeding.The conversation then shifts to what comes next. The episode outlines the difference between an ALJ recommendation and a final decision by the DEA Administrator, while also discussing why investors are closely watching the next stages of the process and the potential implications for cannabis stocks.Throughout the discussion, the focus remains on what has taken place during the hearing, what the administrative process requires, and why the coming weeks will continue to draw attention across the cannabis industry.This episode provides a factual recap of where the hearing stands today, the key procedural developments so far, and what remains before the rescheduling process reaches its next milestone.#Cannabis #CannabisStocks #ScheduleIII #DEA #ALJHearing #CannabisNews #FederalCannabis #CannabisInvesting #280E #TDRWant to see more Cannabis Reform?🎬    • Cannabis Banking Back In Focus | TDR Canna...  🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In the latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell close out the week on a strong note featuring top executives in the cannabis industry.First up, TerrAscend (TSX: TSND | OTCQX: TSNDF) Executive Chairman Jason Wild and CEO Ziad Ghanem join the show to walk through what’s been happening on their side of the business. TerrAscend announced this week that it has signed an option agreement to acquire Aunt Mary’s Dispensary in New Jersey — a move that adds a fifth retail location in one of the company’s strongest markets. Plus, an important topic: The DOJ lawsuit over the $8.3M tax refund and what the upcoming July 17 filing actually represents for the company.In Segment Two, Adam Stettner, CEO of FundCanna returns for his weekly appearance to provide his first week takeaways from the ALJ Hearing. We review the tone, the testimony, and how things are progressing as rescheduling moves through its final procedural steps. One more important note to add, FundCanna is preparing a new data report analyzing first‑half performance by geography and verticals, and what it means heading into the backend of 2026. We top line some of the early data, with a full release expected in the next couple of weeks.Like, subscribe, and leave your comments!Want to see more Cannabis Reform?🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales looks at new reporting from The Marijuana Herald that House Speaker Mike Johnson will not block a vote on cannabis banking reform if there is enough Republican support to move the legislation forward.The episode breaks down what was reported, why the Speaker’s position matters procedurally, and what would still need to happen before any banking legislation reaches the President’s desk.Shadd also explains why cannabis banking has remained one of the industry’s biggest federal issues, with operators continuing to navigate cash-heavy businesses, limited access to traditional financial services, and added compliance challenges compared to other industries.The discussion also puts the latest development into the broader federal context. The DEA’s Administrative Law Judge hearing on cannabis rescheduling is underway, several states continue advancing cannabis policy, and Congress is continuing to debate legislation that could affect how the industry operates.The episode also looks at what banking reform could mean for operators, investors and consumers if legislation ultimately advances, while outlining the remaining legislative process and the role congressional leadership plays in determining whether a bill receives a vote.The Marijuana Herald first reported the development, and this episode provides an overview of what was reported and what to watch as the legislative process continues.#Cannabis #CannabisStocks #CannabisBanking #SAFERBanking #CannabisNews #FederalCannabis #Congress #ScheduleIII #CannabisInvesting #CannabisIndustryWant to see more Cannabis Reform?🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell sit down with Kyle Sherman, Founder & CEO of Flowhub, for a wide‑open conversation about how AI is about to change the cannabis industry. AI is everywhere right now, but the real question is what’s actually useful and what’s just noise. Kyle shares how operators are using AI today, how comfort levels vary across the industry, and why most people are still stuck in basic generative tasks instead of tapping into the agentic era where tools connect, automate, and take action.In segment two, we continue our weekly segment Vantage Standard presented by Vantage.Chief Medical Officer Dr. Paul Shields will join us again and provide feedback on what's developed so far this week involving the ALJ hearing, and more specifically the medical‑use discussion, plus how clinical‑grade CBD fits into a healthcare strategy built around measurable outcomes and physician oversight.Like, subscribe, and leave your comments!#TradeToBlack #Flowhub #CannabisIndustry #AIinCannabis #DispensaryTech #KyleSherman #VantageHealth #CannabisPolicy #MedicalCannabis #shadddales Want to see more Cannabis Reform?🎬    • Virginia Approves Adult-Use Cannabis Sales...  🎬    • The Biggest Takeaways From Day One | TDR C...  🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down a significant development for the U.S. cannabis industry after Marijuana Moment first reported that Virginia lawmakers have given final approval to adult-use cannabis sales through the state’s budget.The decision marks the next step in Virginia’s legalization journey after years of delays, vetoes, and legislative setbacks. The approved budget creates a framework for a regulated adult-use market, including licensing, taxation, compliance standards, and a roadmap for retail sales.Shadd explains why this move extends beyond Virginia. The state becomes the first in the South to advance adult-use cannabis through a bipartisan budget agreement, highlighting another example of cannabis policy moving forward through legislation and fiscal planning rather than standalone legalization bills.The episode also looks at where Virginia fits within the broader East Coast cannabis landscape, how the new market could impact existing operators, and why multi-state operators already active in the region will be watching developments closely.With the DEA’s Administrative Law Judge hearing now underway and broader federal reform discussions continuing, Virginia’s approval adds another chapter to an evolving cannabis policy landscape that continues to change at both the state and federal levels.Marijuana Moment first reported the news, and this episode breaks down what was approved, why it matters, and what comes next for Virginia’s regulated cannabis market.#Cannabis #CannabisStocks #VirginiaCannabis #CannabisNews #AdultUse #CannabisIndustry #MarijuanaMoment #ScheduleIII #CannabisInvesting #GovernorSpanbergerWant to see more Cannabis Reform?🎬    • The Biggest Takeaways From Day One | TDR C...  🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell continue their coverage of the Administrative Law Judge hearing taking place in Arlington, Virginia. WWith Day Two underway, we outline the feedback coming from inside the courthouse and the themes emerging as testimony continues.First stop, Eric Berlin from Dentons joins us. He’s one of the most respected cannabis attorneys in the country, and he walks through how the arguments are being presented inside the hearing room, what the ALJ appears focused on, and how the early testimony fits within the scheduling framework.We review several points raised by opponents of cannabis rescheduling, including concerns about the FDA relying on older data sets, questions around diversion from state programs, variability in cannabis products, and the lack of pregnancy‑specific analysis in the government’s review. Then in Segment Two, Michael Bronstein joins us for the second consecutive day. He goes through the key moments from Day One, including the government witness’s admissions regarding data gaps and how opponents attempted to frame those gaps. This episode provides a clear, factual overview of where the rescheduling hearing stands at this stage.Like, subscribe, and leave your comments!#CannabisRescheduling #ScheduleIII #CannabisNews #TradeToBlack #Flowhub #CannabisPolicy #ALJHearing #CannabisIndustry #MichaelBronstein #CannabisReformWant to see more Cannabis Reform?🎬    • The Biggest Takeaways From Day One | TDR C...  🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down the biggest takeaways from Day One of the DEA’s Administrative Law Judge hearing on cannabis rescheduling.While many investors were expecting fireworks, the first day was really about setting the framework for everything that follows. The hearing offered important clues about how the ALJ intends to manage the process, what arguments are likely to carry weight, and where the focus will be over the next two weeks.Shadd walks through one of the day’s biggest developments: the judge’s clarification that this hearing is about cannabis as a whole—not a debate between medical and adult-use markets. The episode also explains why the procedural rules governing evidence and testimony could limit many of the broader political arguments expected from prohibition-leaning groups.Beyond the hearing itself, the conversation also touches on the bigger picture. Louisiana’s withdrawal from the proceeding, recent developments in Washington, and the structured timeline leading into late July all add important context as the rescheduling process moves forward.The biggest takeaway from Day One wasn’t necessarily what was said inside the hearing room—it was the structure already in place before testimony even began. That foundation could end up shaping the rest of the proceeding just as much as the witnesses themselves.#Cannabis #CannabisStocks #ScheduleIII #DEA #ALJHearing #CannabisNews #FederalCannabis #280E #CannabisInvesting #CannabisIndustry #CannabisNews #TrumpWant to see more Cannabis Reform?🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

On today’s Trade To Black presented by FlowHub, Shadd Dales and Anthony Varrell kick things off with a couple of stories that set the tone for a busy week. First, they react to Trulieve (NYSE: TRLV) CEO Kim Rivers’ update — she’s officially terminated the Automatic Securities Disposition Plan she put in place back in March. The plan became public right after Trulieve began trading on the New York Stock Exchange, and late Friday she posted that it’s now ended. Shadd and Anthony walk through why the timing stands out and what it might suggest about confidence, strategy, and how institutions could read the move.Before bringing in Michael, the guys also get into a new bill out of New Jersey that would allow liquor stores and certain ABC‑licensed bars to sell low‑dose THC beverages — up to 10mg THC per can. The bill also extends hemp beverage rules to November 13, 2026 and updates display and serving‑size guidelines. Shadd and Anthony talk about how this fits into the broader trend of THC drinks moving into everyday retail environments.Then Michael Bronstein, President of the American Trade Association for Cannabis & Hemp, joins us for his Monday segment as we tee up Day One of the ALJ hearing. Michael lays out what people should actually pay attention to, how the process works, and why this week matters for the industry’s regulatory future.Like, subscribe, and leave your comments!#CannabisNews #Trulieve #TRLV #KimRivers #THCBev #NewJersey #TradeToBlack #FlowHub #CannabisPolicy #ALJHearing #Cannabis #CannabisIndustry #CannabisStocksWant to see last week's recap?   • ALJ Hearing Begins Tomorrow | TTB Weekly R...  Want to see more Cannabis Reform?🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down what Trulieve’s (NYSE: TRLV) historic move to the New York Stock Exchange actually means for the cannabis industry—and why investors should be looking beyond the headlines.The uplisting marked a major milestone as Trulieve became the first U.S. plant-touching cannabis operator to trade on the NYSE. But the story didn’t end there. Shortly after the listing, attention shifted to CEO Kim Rivers’ pre-scheduled share sales, raising questions from investors about timing, perception, and what it all means going forward.The episode also looks at which companies could be next. Curaleaf (TSX: CURA | OTCQX: CURLF) and Verano (Cboe Canada: VRNO | OTCQX: VRNOF) have already completed reverse stock splits, signaling preparations for potential uplistings. Green Thumb Industries (CSE: GTII | OTCQX: GTBIF) remains one of the sector’s strongest operators, while Cresco Labs (CSE: CL | OTCQX: CRLBF) continues to generate speculation around consolidation and M&A.Most importantly, this episode explains why an uplisting alone doesn’t solve the industry’s biggest challenges. The discussion covers institutional capital, liquidity, valuation, balance sheets, and why the second company to reach a major U.S. exchange could be just as important as the first.#Cannabis #CannabisStocks #Trulieve #ScheduleIII #NYSE #MSOS #CannabisInvesting #CannabisNews #WallStreet #CannabisIndustryWant to see last week's recap?   • ALJ Hearing Begins Tomorrow | TTB Weekly R...  Want to see more Cannabis Reform?🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black Weekly Recap presented by Flowhub, host Shadd Dales breaks down one of the biggest weeks we’ve seen for both the cannabis and psychedelic sectors.The spotlight now shifts to Arlington, Virginia, where the DEA’s Administrative Law Judge hearing on cannabis rescheduling gets underway. Shadd explains why the witness list has generated so much discussion, why only opponents of rescheduling will testify alongside the government, and what investors should really be watching as the hearing moves toward its July 15 conclusion.The episode also looks at the growing effort to challenge adult-use cannabis at the state level, with Massachusetts set to vote on a repeal initiative next year, while Maine could follow in 2027.On the company front, Glass House Brands (NYSE: GLAS) officially becomes the second U.S. plant-touching cannabis operator to uplist to a major U.S. exchange, following Trulieve Cannabis (NYSE: TRLV | CSE: TRUL). We also cover the latest developments from Curaleaf Holdings (TSX: CURA | OTCQX: CURLF), TerrAscend (TSX: TSND | OTCQX: TSNDF) and MariMed (CSE: MRMD | OTCQX: MRMD) as the industry continues preparing for a potential Schedule III environment.Plus, in psychedelics, Definium Therapeutics (NASDAQ: DFTX) reports positive Phase 3 data, while Compass Pathways (NASDAQ: CMPS) and Helus Pharma add to more than $1 billion in recent capital raises across the sector.If you’re following cannabis reform, institutional investment, or psychedelic drug development, this recap covers the biggest stories you need to know heading into the week ahead.#CannabisStocks #CannabisNews #CannabisInvesting #ScheduleIII #CannabisIndustry #Psychedelics #MSOS #NYSE #CannabisReform #TradeToBlackWant to see more Cannabis Reform?🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In our latest Trade To Black presented by Flowhub, hosts Shadd Dales and Anthony Varrell hit the road to Santa Barbara County, California for an on-location look at the Salisbury Ranch, the massive outdoor cannabis cultivation site operated by LEEF Brands (OTCQB: LEEEF).This is not your typical indoor or greenhouse tour.Shadd and Anthony walk the property with LEEF Brands CEO Micah Anderson, getting a firsthand look at the size, scale, and long-term growth potential of one of the largest outdoor cannabis grows in the country.The ranch currently has 80 acres planted, with another 20 acres expected to come online this summer. Anderson also explains the company’s 180-acre land-use permit, future expansion plans, and why the surrounding ranch land and natural buffers make the site unique for large-scale organic cannabis cultivation.The conversation also covers how LEEF built its business around concentrates, why controlling its own supply chain matters, how outdoor cultivation changes the cost structure, and why the company believes this farm could play a bigger role as the cannabis industry moves into its next phase.With cannabis reform, Schedule III, MSO interest, and demand for low-cost production all becoming bigger themes, this behind-the-scenes visit gives investors a closer look at what cannabis at true agricultural scale can look like.#CannabisStocks #CannabisNews #CannabisInvesting #LEEFBrands #LEEEF #CaliforniaCannabis #CannabisCultivation #CannabisFarm #MSOS #TradeToBlackWant to see more Cannabis Reform?🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In this episode of the Trade To Black Podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell explore two major developments shaping U.S. cannabis finance.We begin with Terry Mendez, CEO of Safe Harbor Financial (NASDAQ: SHFS), who joins us after the Benzinga Capital Conference in Chicago. Terry shares why institutional banks are quietly preparing for future cannabis exposure and what they’re learning as they evaluate the sector. Then Andrew O’Connell, author of the Pristine Capital Substack and a past participant in the U.S. Investing Championship, breaks down new data on Trulieve (NYSE: TRLV) and recent insider activity involving Kim Rivers. His analysis covers trading volume, timing, and how the stock has performed since uplisting to the NYSE — plus how the buyback authorization fits into the broader picture.O'Connell breaks down the data behind her planned share sales, how the volume compares to overall trading, and how the stock has behaved since uplisting to the New York Stock Exchange two weeks ago. He also reviews Trulieve’s newly authorized share‑buyback program and what the numbers may signal for investors tracking sector leadership.Like, subscribe, and leave your comments!\#TradeToBlack #CannabisInvesting #TrulieveStock #InstitutionalCapital #CannabisStocks #CannabisIndustry #CannabisNews #CannabisReform #CannabisRescheduling #Cannabis #WeedStocksWant to see more Cannabis Reform?🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:[email protected] Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...