The Dales Report | Trade to Black

Federal Hemp Ban: What’s Actually Targeted? | TDR Cannabis in 5

In the latest TDR Cannabis in Five, host Shadd Dales breaks down Congress’ move to ban intoxicating hemp products — and why the conversation online has become so divided.Lawmakers are targeting products like THCA flower, Delta-8, Delta-10, HHC, and other lab-converted cannabinoids that emerged from the 2018 Farm Bill hemp loophole. That loophole defined hemp by pre-decarboxylation THC levels, allowing THCA flower to be sold legally even though it converts to THC when heated.But the concern now isn’t just about intoxicating hemp.The federal language being proposed could unintentionally impact:Full-spectrum CBD products20:1 CBD:THC formulations similar to Charlotte’s WebHemp genetics and seed salesNon-intoxicating cannabinoid productsThis episode separates fact from misinformation, clarifies what Congress is actually targeting, and explains why some states — like Virginia — are offering hemp operators transition pathways into regulated cannabis markets, while federal lawmakers are taking a broader, more restrictive approach.For cannabis investors, hemp operators, and policy watchers, this moment represents a critical inflection point between federal reform, industry consolidation, and regulatory clarity.#HempBan #THCAFlower #Delta8 #CannabisPolicy #FarmBill #CBDIndustry #CannabisReform #HempIndustry #FullSpectrumCBD #TDRCannabisInFiveWant to see last week's recap?🎬    • Rescheduling Rumors + Real Earnings Result...  Want to see more Cannabis Reform videos?🎬    • Virginia Adult-Use Sales Finally Near | TD...  🎬    • Hemp THC Delay Won’t Get A Vote | TDR Cann...  🎬    • Pennsylvania Legalization Gains Real Momen...  🎬    • New Farm Bill Draft Targets Intoxicating 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:sdales@thedalesreport.comPodcast 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...

Virginia Adult-Use Sales Finally Near | TDR Cannabis in 5

In the latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down major progress in Virginia’s long-delayed adult-use cannabis market.After legalizing adult possession in 2021, commercial cannabis sales in Virginia stalled due to repeated vetoes under former Governor Glenn Youngkin. Now, with a Democratic majority in the General Assembly and Governor Abigail Spanberger signaling support, lawmakers are advancing legislation that could finally launch regulated recreational marijuana sales in 2026.Both HB 642 and SB 542 outline a full adult-use framework, allowing adults 21+ to purchase up to 2.5 ounces, establishing seed-to-sale compliance rules, setting excise tax structures, and creating opportunities for microbusinesses and delivery services. The House proposes a November 1, 2026 launch, while the Senate targets January 1, 2027. A final compromise bill is expected before heading to the governor’s desk.The episode also highlights how Virginia’s medical cannabis operators are already positioned for expansion and why this could become one of the strongest East Coast cannabis markets once retail sales begin.For operators, investors, and cannabis industry stakeholders, Virginia’s momentum signals real movement — not just headlines.Subscribe for continued updates as this legislation moves toward final approval.#VirginiaCannabis #AdultUseCannabis #CannabisLegalization #VirginiaMarijuana #CannabisIndustryNews #CannabisPolicy #EastCoastCannabis #CannabisInvesting #Flowhub #TDRCannabisInFiveWant to see last week's recap?🎬    • Rescheduling Rumors + Real Earnings Result...  Want to see more Cannabis Reform videos?🎬    • Hemp THC Delay Won’t Get A Vote | TDR Cann...  🎬    • Pennsylvania Legalization Gains Real Momen...  🎬    • New Farm Bill Draft Targets Intoxicating H...  🎬    • Did Bondi’s Hearing Put Cannabis Reschedul...  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:sdales@thedalesreport.comPodcast 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...

This Earnings Season Feels Different in Cannabis

This earnings season feels different in cannabis.In the latest TDR Trade To Black podcast presented by Flowhub, host Shadd Dales quickly recaps new earnings from Trulieve (OTCQX: TCNNF) and Curaleaf (TSX: CURA) before sitting down with Anthony Coniglio, CEO of NewLake Capital Partners (OTCQX: NLCP) for a conversation about what’s really changing across the sector.Major MSOs — including Green Thumb Industries (CSE: GTII / OTCQX: GTBIF), Trulieve (OTCQX: TCNNF), Curaleaf (TSX: CURA) and Cresco Labs (OTCQX: CRLBF) — have spent the last month strengthening their balance sheets, refinancing debt, and lowering their cost of capital. With potential 280E reform tied to federal rescheduling still looming, operators appear to be positioning for a post-tax-burden world.Aka, cannabis rescheduling appears to be around the corner.We address uplisting potential, capital markets re-rating, asset-level discipline, and what the most important things to pay attention to in the Cannabis Industry here in the short term.Leave your thoughts below — and don’t forget to like and subscribe.#CannabisStocks #CannabisEarnings #Trulieve #Curaleaf #NewLakeCapital #CannabisRescheduling #280E #CannabisInvesting #MSOs #TradeToBlack #CannabisReschedulingWant to see more Cannabis Reform videos?🎬    • Pennsylvania Legalization Gains Real Momen...  🎬    • New Farm Bill Draft Targets Intoxicating H...  🎬    • Did Bondi’s Hearing Put Cannabis Reschedul...  🎬    • Was Trump Really “Poorly Advised” on 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:sdales@thedalesreport.comPodcast 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...

Industry Leader Kicks Off Cannabis Earnings Season | TTB Powered by Flowhub

Earnings season is here, and on today’s episode of Trade To Black presented by Flowhub, hosts Shadd Dales and Anthony Varrell take a grounded look at what’s ahead for the cannabis sector. First up is Green Thumb Industries (CSE: GTII | OTCQX: GTBIF), the largest operator in the space, reporting its Q4 and full‑year fiscal 2025 results after market close. To give viewers some context, the team revisits GTI’s Q3 performance, where the company reported $275 million in revenue, $11 million in net income, $83 million in adjusted EBITDA, a 30% EBITDA margin, and $61 million in operating cash flow. It’s a quick refresher before the new numbers arrive.The episode also breaks down President Trump’s State of the Union address. There was plenty of chatter online, but the guys explain why a cannabis rescheduling announcement was never realistically on the table for that moment. They walk through the political timing and the way these decisions typically move through the system.From there, attention shifts to Virginia, where lawmakers are actively working through the final details of adult‑use cannabis legislation. With the House General Laws Committee approving a substitute version of SB 542 in a 16–4 vote, the state is finally moving past years of possession‑only limbo and getting closer to a functioning retail framework.The show also covers two notable corporate developments:• Organigram Holdings (NASDAQ: OGI | TSX: OGI) expanding into Australia with Edison and BOXHOT.• Glass House Brands (NEO: GLAS.A | OTCQX: GLASF) forming a new strategy committee to explore innovation, partnerships, and expansion beyond California - and Kyle Kazan and Alison Payne join us to talk about it directly.#CannabisNews #CannabisIndustry #CannabisBusiness#CannabisInvesting #WeedStocks #CannabisReform#MarijuanaLegalization #CannabisCommunity #CannabisMarket #CannabisPolicyWant to see more Cannabis Reform videos?🎬    • Pennsylvania Legalization Gains Real Momen...  🎬    • New Farm Bill Draft Targets Intoxicating H...  🎬    • Did Bondi’s Hearing Put Cannabis Reschedul...  🎬    • Was Trump Really “Poorly Advised” on 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:sdales@thedalesreport.comPodcast 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...

Is Washington Finally Moving On Cannabis Rescheduling?

In the latest TDR Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down the day that feels like the temperature continues to rise across the cannabis industry.First up news out of Florida, where state officials have reset marijuana legalization campaign signatures to zero amid ongoing legal challenges. For one of the largest medical cannabis markets in the country, that’s not a small development. It raises real questions about how difficult adult-use legalization could be in 2026.From there, attention shifts to recent comments from Dr. Mehmet Oz, who voiced concerns about high-dose THC and hemp-derived products, signaling that tighter oversight on potency may be coming. If regulators start drawing new lines, parts of the market could look very different.We also address a fresh New York Times op-ed arguing that America doesn’t have a marijuana crisis — it has a cannabis education gap. Then in Segment Two, investor and former hedge fund manager Mark Cohodes joins the podcast and explains why he believes federal cannabis rescheduling could be close, adding fuel to growing speculation that Attorney General Pam Bondi and the DOJ may be nearing a final decision.Momentum is building. The question is whether Washington is finally ready to move.Like, subscribe, and drop your thoughts below.#CannabisNews #CannabisStocks #CannabisRescheduling #FloridaLegalization #PamBondi #MarkCohodes #THCRegulation #CannabisPolicy #CannabisStocks #FlowhubWant to see more Cannabis Reform videos?🎬    • Pennsylvania Legalization Gains Real Momen...  🎬    • New Farm Bill Draft Targets Intoxicating H...  🎬    • Did Bondi’s Hearing Put Cannabis Reschedul...  🎬    • Was Trump Really “Poorly Advised” on 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:sdales@thedalesreport.comPodcast 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...