The Dales Report | Trade to Black

Why Trump’s Team Is Highlighting Cannabis Reform | TDR Cannabis in 5

Why is the White House now highlighting cannabis rescheduling as one of President Trump’s top accomplishments — and why does that matter heading into 2026?In this edition of TDR Cannabis in Five, host Shadd Dales breaks down the political significance behind the Trump administration publicly elevating marijuana rescheduling as a first-year achievement. This isn’t about re-litigating the policy itself. It’s about understanding why cannabis reform is being positioned as a political asset at this stage of the administration’s second term.Cannabis remains one of the few policy issues that consistently polls well across party lines, resonating with independents, younger voters, veterans, patients, and small business owners. By framing rescheduling around governance, medical access, economic participation, and regulatory clarity — rather than legalization — the White House is signaling a more strategic approach as the midterm cycle approaches.The episode also looks at the broader policy groundwork that helped make this moment possible, including years of advocacy around cannabinoids like CBD and the push to move cannabis further into the healthcare and institutional mainstream. That context matters when evaluating why federal leadership now appears more comfortable owning the issue publicly.Another key takeaway: when an administration labels something a major win, it ties its credibility to follow-through. That doesn’t remove legal or political hurdles, but it does reduce the likelihood of quiet delay.This is a snapshot of how cannabis policy has shifted from a political risk to a narrative tool — and what that says about where federal reform is heading next.#CannabisRescheduling #FederalCannabis #TrumpAdministration #CannabisPolicy #ScheduleIII #USCannabis #PoliticalStrategy #CannabisReform #HealthcarePolicy #TDRCannabisWant to see more Cannabis Reform videos?   • Alcohol Rules Change While Cannabis Stays ...     • Proposed Hemp Extension Faces Ongoing Unce...     • The $4 Billion Problem Facing U.S. Cannabi...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at: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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

What Schedule III Could Really Trigger Across Cannabis

Trade to Black presented by Flowhub returns with hosts Shadd Dales and Anthony Varrell for a timely conversation focused on where U.S. cannabis policy, capital markets, and regulatory expectations stand right now. Joining the show is Marc Cohodes, veteran investor, former hedge fund manager, and longtime participant in the cannabis sector.It has now been more than a month since President Trump signed the executive order directing cannabis rescheduling, yet the industry is still waiting on formal action from Attorney General Pam Bondi. Marc breaks down what that delay could signal, how policymakers in Washington are viewing the timeline, and whether the lack of movement itself is creating unintended consequences across the market.The discussion also looks at how Big Pharma and Big Alcohol are positioning themselves as the possibility of Schedule III becomes more concrete, and what that could mean for operators, competition, and long-term market structure. Marc shares his perspective on whether uplisting becomes more realistic post-rescheduling, how lawmakers are thinking about FINRA, and whether changes to federal classification could reduce the importance of SAFER Banking as a near-term catalyst.The conversation also touches on Glass House Brands (OTCQX: GLASF) following the company’s newly announced 2026 expansion strategy, along with Marc’s view on how scaled operators may be positioned as the regulatory backdrop continues to shift. Finally, the group discusses Sara Carter’s recent appointment and her public push to see rescheduling finalized, and whether there appears to be meaningful alignment behind the scenes.A candid, timely discussion focused on signals—not speculation.#CannabisRescheduling #ScheduleIII #TradeToBlack #CannabisInvesting #CannabisStocks #FederalCannabis #BigPharma #BigAlcohol #GlassHouseBrands #FlowhubWant to see more Cannabis Reform videos?   • Alcohol Rules Change While Cannabis Stays ...     • Proposed Hemp Extension Faces Ongoing Unce...     • The $4 Billion Problem Facing U.S. Cannabi...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at: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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

A Closer Look at How Cannabis Capital Is Being Deployed | TDR Cannabis in 5

What does real capital flow actually look like in the U.S. cannabis industry right now — beyond market narratives and headlines?In this edition of TDR Cannabis in Five, host Shadd Dales walks through newly released funding data from FundCanna to better understand how cannabis operators are accessing and deploying capital as the industry moves deeper into 2026.The dataset spans thousands of applications across dozens of U.S. states and offers a grounded look at where demand remains steady, where it has moderated, and how capital usage has evolved across the sector. Rather than pointing to stress or contraction, the numbers suggest a shift toward more deliberate and targeted financing.Funding activity is spread across nearly every vertical — including vertically integrated operators, retail, cultivation, manufacturing, hemp, and ancillary services. Average deal sizes remain measured, terms are structured, and capital is largely being used for core operational needs such as inventory, payroll, and working capital.Geographically, businesses in 43 states have accessed funding, reinforcing that financing demand extends well beyond legacy markets. Even in a year marked by relatively flat macro growth, capital continues to support day-to-day operations and incremental expansion.Taken together, the data points to an industry that is operating with greater financial discipline. Capital is still moving, but in more controlled amounts and with clearer use cases — reflecting a more mature phase of development under continued federal constraints.#CannabisIndustry #CannabisFinance #CannabisInvesting #FundCanna #CannabisCapital #CannabisOperators #CannabisMarkets #Cannabis2026 #CannabisBusiness #TDRCannabisWant to see last week's recap?   • Hemp Politics, State Legalization, and Cap...  Want to see more Cannabis Reform videos?   • Alcohol Rules Change While Cannabis Stays ...     • Proposed Hemp Extension Faces Ongoing Unce...     • The $4 Billion Problem Facing U.S. Cannabi...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at: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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

One Month After Donald Trump Signed The EO To Reschedule Cannabis | TTB Powered by Flowhub

One month after the White House executive order directing a fast-track push to move cannabis to Schedule III, host Anthony Varrell is joined by Michael Bronstein (President, ATACH — American Trade Association for Cannabis and Hemp) for a ground-level debrief on what’s actually changed—and what hasn’t—since the announcement.This episode zeroes in on two major developments shaping the next phase of U.S. cannabis policy: the confirmation of Sara Carter as the nation’s new “Drug Czar” (ONDCP Director) and Virginia’s latest move to finally bring an adult-use retail market online—including a newly filed bill that would establish the legal framework for licensed cultivation, processing, testing, and sales.Topics we coverSchedule III cannabis rescheduling: what the executive order does, what it doesn’t, and why the process matters more than the headlineHow rescheduling could impact research, compliance, taxes (280E), banking optics, and operator strategySara Carter’s appointment: what her leadership at ONDCP could mean for enforcement priorities, public health messaging, and the cannabis industry narrativeVirginia adult-use cannabis: the latest bill push to launch regulated sales, key provisions, and what the political runway looks like in 2026The broader chessboard: federal agencies, state rollouts, hemp-derived cannabinoids, and the next catalysts investors and operators are watching#CannabisNews #TradeToBlack #Flowhub #CannabisPolicy #CannabisRescheduling #AdultUseCannabis #MarijuanaMoment #CannabisInvesting #CannabisIndustry #CannabisMarketsWant to see last week's recap?   • Hemp Politics, State Legalization, and Cap...  Want to see more Cannabis Reform videos?   • Alcohol Rules Change While Cannabis Stays ...     • Proposed Hemp Extension Faces Ongoing Unce...     • The $4 Billion Problem Facing U.S. Cannabi...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at: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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

Hemp Politics, State Legalization, and Capital Moves | TTB Weekly Recap

What happens when cannabis policy, hemp politics, and capital markets all collide in the same week?In this episode of TDR Weekly Recap, presented by Flowhub, host Shadd Dales breaks down a wide-ranging week for the cannabis industry — from federal contradictions around hemp and THC, to renewed adult-use momentum in key U.S. states, and meaningful business developments across North America and Europe.The show starts with a surprising moment from Joe Rogan and Senator Rand Paul, who laid bare the political irony behind the federal crackdown on hemp-derived THC — including how parts of the regulated cannabis industry may have supported restrictions that ultimately limit interstate competition.From there, attention turns to state-level reform. Virginia moves closer to resolving its long-standing retail limbo, Florida ramps up one of the most expensive cannabis ballot campaigns in U.S. history backed by Trulieve Cannabis Corp. (CSE: TRUL | OTCQX: TCNNF), and Pennsylvania remains stuck debating who should control cannabis sales — not whether legalization should happen.On the business side, the episode covers Village Farms International (NASDAQ: VFF) expanding regulated products in the Netherlands, Glass House Brands (OTCQX: GLASF | CSE: GLAS.A) advancing AI-driven cultivation research with UC Berkeley, Verano Holdings (CSE: VRNO | OTCQX: VRNOF) launching a new pre-roll brand while extending its credit facility, Aurora Cannabis (NASDAQ: ACB | TSX: ACB) progressing disease-resistant genetics, and Incannex Healthcare (NASDAQ: IXHL | ASX: IHL) earning international recognition for clinical trial innovation.This isn’t about hype — it’s about how policy, capital, and execution are reshaping cannabis in real time.#CannabisNews #TDRWeeklyRecap #CannabisPolicy #HempTHC #AdultUseCannabis#CannabisStocks #CannabisIndustry #Flowhub #CannabisInvesting #GlobalCannabisWant to see more Cannabis Reform videos?   • Alcohol Rules Change While Cannabis Stays ...     • Proposed Hemp Extension Faces Ongoing Unce...     • The $4 Billion Problem Facing U.S. Cannabi...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at: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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...