The Dales Report | Trade to Black

A Texas Democrat says he wants to team up with President Trump to legalize marijuana nationwide, but is it a real opening or political theater? In this TDR Cannabis in 5, host Shadd Dales breaks down what James Talarico, the Democratic nominee for U.S. Senate in Texas, said on MS NOW about working with Trump, and where the administration actually stands. Talarico said he believes Trump supports le...

This week's Trade to Black Weekly Recap, presented by FRE, covers the ruling that brings cannabis rescheduling closer to a recommended decision. Host Shadd Dales breaks down Chief Administrative Law Judge Derek Julius's October 22 order rejecting opponents' request to reopen the DEA hearing for more testimony and discovery. He admitted the Government Accountability Office report, which...

A DEA judge just rejected an attempt to reopen the marijuana rescheduling hearing, but opponents still get one more chance to make their case. In this TDR Cannabis in 5, host Shadd Dales breaks down what Chief Administrative Law Judge Derek Julius decided on October 22 and what it means for federal rescheduling. The opponents had asked to reopen the hearing for more testimony and document discover...

A major ruling just landed in the DEA's marijuana rescheduling hearing, and cannabis attorney Eric Berlin of Dentons joins the Trade to Black podcast, presented by Flowhub, to break it down. Host Shadd Dales covers Chief Administrative Law Judge Derek Julius's Thursday order rejecting opponents' request to reopen the hearing for more testimony and document discovery. The judge noted the record alr...

A new poll says President Trump is losing support among cannabis consumers, but does the headline tell the whole story? In this TDR Cannabis in 5, host Shadd Dales breaks down the latest NuggMD and Marijuana Moment survey of 654 consumers in legal states. It found 29% approve of the administration's cannabis actions, down from 48% last quarter and 73% before that. Only 20% disapprove, while 51...

A fight is playing out inside the cannabis industry over the future of hemp-derived THC, and TDR Cannabis in 5 breaks down both sides. Host Shadd Dales starts with the Marijuana Policy Project's call for Congress to stop the scheduled federal ban and replace it with regulation, including potency limits, testing, labeling and age restrictions. Under the 2018 Farm Bill, hemp is legal below 0.3%...

Congress is racing to deal with hemp before December 11, and one Wisconsin hemp farmer says many of the bills on the table protect the conversion model, not farmers. On this Trade to Black interview, presented by Flowhub, hosts Shadd Dales and Anthony Varrell sit down with Alexander Mootz, who has worked in hemp since 2018 and rents the land he grows on. He walks through the 2019 CBD crash, flying...

Massachusetts voters decide November 3 whether to repeal recreational cannabis sales, and 62 state lawmakers, including House Speaker Ronald Mariano and Senate President Karen Spilka, are fighting to stop it. TDR Cannabis in 5 breaks down Question 8 with host Shadd Dales, based on Marijuana Moment's reporting. If Question 8 passes, licensed recreational retail sales and home cultivation would...

Rubicon Organics (TSXV: ROMJ) CEO Margaret Brodie returns to the Trade to Black podcast, presented by Flowhub, to break down the company's fresh $3 million raise. Hosts Shadd Dales and Anthony Varrell cover the non-brokered private placement from strategic investor Siwash Rock Investments, 6,666,667 shares at $0.45 with no warrants or finder's fees. It funds a lighting upgrade at Pacifica,...

More Americans are turning to cannabis to quit nicotine, and a new study suggests there may be a catch. In this TDR Cannabis in 5, host Shadd Dales breaks down research from the San Francisco VA Health Care System, the University of California and NYU, published in the Journal of General Internal Medicine, using a survey of 2,804 U.S. adults who smoke cigarettes, vape nicotine or both. Among peopl...

Earnings season is two weeks away, and today's news is giving us a sneak preview on what to expect. On the Trade to Black podcast, presented by Flowhub, hosts Shadd Dales and Anthony Varrell start with preliminary Q3 results from Glass House Brands (NYSE: GLAS): revenue of $56.8 million, record biomass production of about 317,000 pounds, cost of production down to roughly $110 per pound and ca...

Washington delivered another twist in cannabis rescheduling this week, and this Trade to Black Weekly Recap, presented by FRE, covers it all. Host Shadd Dales breaks down how opponents are pushing to reopen the DEA hearing after a Government Accountability Office report on missing written procedures, and how the DEA responded in its October 9 filing: no objection to admitting the report, but stron...

President Donald Trump is making cannabis headlines again, but not over rescheduling or federal legalization. TDR Cannabis in 5, presented by FRE, looks at his comments about the smell of marijuana in American cities. Host Shadd Dales covers Marijuana Moment's report that Trump criticized Democratic-run cities during Columbus Day remarks, describing dirty streets, deteriorating conditions and...

Organigram Global Inc. (NASDAQ: OGI) (TSX: OGI) CEO James Yamanaka joins the Trade to Black podcast, presented by Flowhub, to break down the company's latest news. Hosts Shadd Dales and Anthony Varrell cover Organigram's completed integration of Sanity Group and its new unified global operating model, which the company expects to deliver $8 million to $10 million in annualized savings, wit...

Is the DEA judge's latest order really bad news for cannabis rescheduling? This episode of TDR Cannabis in 5, presented by FRE, argues it may be more routine than it looks. Host Shadd Dales covers Marijuana Moment's report that Judge Derek Julius has ordered the DEA to respond by October 21 to opponents' request for additional testimony and access to government documents, tied to a rec...

The judge in the DEA's marijuana rescheduling hearing has ordered the agency to respond to opponents' bid to reopen the case, and Eric Berlin of Dentons returns to the Trade to Black podcast, presented by Flowhub, to break it down. Hosts Shadd Dales and Anthony Varrell cover Chief Administrative Law Judge Derek Julius's order, which gives the DEA until October 21 to answer a motion for...

The DEA's response to the GAO report may be good news for cannabis rescheduling, and this episode of TDR Cannabis in 5, presented by FRE, explains why. Host Shadd Dales covers Marijuana Moment's report on the agency's filing in reply to opponents' push to add a Government Accountability Office report to the hearing record, and argues investors may be reading the headlines backward....

NuggMD CEO Charlie Russell joins the Trade to Black podcast, presented by Flowhub, to break down two state medical cannabis stories worth watching. Hosts Shadd Dales and Anthony Varrell start in Georgia, where the Access to Medical Cannabis Commission approved a rule allowing licensed producers to deliver medical cannabis to registered patients by USPS or private carrier, including to long-term ca...

WNBA star Brittney Griner is calling for marijuana legalization in all 50 states, and this episode of TDR Cannabis in 5, presented by FRE, looks at what she said and why it carries weight. Host Shadd Dales covers Marijuana Moment's report on Griner's appearance on Ben & Jerry's Into The Mix podcast, where she described cannabis as a booming business and pointed to the jobs, economic activity a...

Pennsylvania State Rep. Amen Brown joins the Trade to Black podcast, presented by Flowhub, to discuss the state's crackdown on smoke shops. Hosts Shadd Dales and Anthony Varrell talk with the West Philadelphia Democrat about Operation Breezy, the initiative he launched with Philadelphia police and the state Attorney General's office. According to Brown, it has closed 13 smoke shops in abou...

Cannabis rescheduling is running on two separate tracks, and this episode of TDR Cannabis in 5, presented by FRE, explains how they fit together. Host Shadd Dales starts with Marijuana Moment's report that the Justice Department and the groups suing to block rescheduling have agreed on a schedule for their court fight. Track one is the DEA hearing before an administrative law judge, now paused...

Curaleaf (TSX: CURA)(OTCQX: CURLF) raised its hostile bid for Aurora Cannabis (NASDAQ: ACB)(TSX: ACB) from $4 to $5 per share, and this Trade to Black Weekly Recap, presented by FRE, covers the biggest cannabis developments of the week. Host Shadd Dales also addresses Friday's rumors that Organigram Global (NASDAQ: OGI)(TSX: OGI) could be interested in Aurora, and why those reports deserve cau...

The Marijuana Policy Project is pressing Congress to stop the federal hemp THC ban from taking effect, and this episode of TDR Cannabis in 5, presented by FRE, looks at what that push signals. Host Shadd Dales covers MPP's action alert urging supporters to contact their senators and representatives, with a simple message: regulate these products, don't ban them. MPP is calling for a compre...

President Donald Trump publicly named Howard Kessler, founder of The Commonwealth Project, as his friend and adviser on aging healthcare, and this episode of TDR Cannabis in 5, presented by FRE, looks at why that matters for cannabis. Host Shadd Dales covers the Truth Social post, where Trump credited Kessler with work on healthcare innovation, lower costs, new technologies and better treatment op...

Safe Harbor Financial (NASDAQ: SHFS) kicked off cannabis earnings season early, and CEO Terry Mendez joins the Trade to Black podcast to walk through the preliminary Q3 numbers. Host Shadd Dales and co-host Anthony Varrell go through trailing 14-day average deposits of $119.3 million as of September 30, up 7.4% year over year and roughly 25% above the May 2025 low of $95.3 million. Deposits grew 9...