High Spirits: The Cannabis Business Podcast

The federal government has finally acknowledged the "accepted medical use" of cannabis—but for millions of patients, the battle for true integration into the US healthcare system is just beginning. As we face a shifting regulatory landscape, is Schedule III a victory or a trap? About This Episode: In this episode of High Spirits , hosts Ben Larson & AnnaRae Grabstein are joined by St...

Chicago Atlantic's Steven Ernest, Head of Originations, pulls back the curtain on institutional cannabis lending — from how his firm evaluates operators and underwrites deals, to navigating distressed assets, ESOPs, and the murky road ahead for rescheduling and 280E. If you want to understand how capital really flows in this industry, this is the episode. But before we talk to Steven, a quick...

The 2026 Farm Bill draft is finally on the table, and while the "hemp loophole" remains untouched for now, the industry is already looking toward a post-cliff future. As big tobacco backs Canadian giants in Europe and stadiums open their doors to THC, the landscape of cannabis distribution is shifting under our feet. In this week's edition of This Week in Cannabis Live (TWICL) , hos...

THC% might be the most overused number in cannabis—and it’s not helping consumers make better choices. In this episode, Ben nerds out with Dr. Riley Kirk on what actually drives effects, why “nose knows” matters, and how cannabis science can (and should) live outside academic journals. - Ben Larson (solo this week while AnnaRae is off-grid in Kauai) welcomes Dr. Riley Kirk —PhD cannabis scientist,...

The cannabis industry is getting squeezed from every angle—state AGs, ballot fights, and a federal regulator that can’t hit a deadline. On this week’s High Spirits business news roundup, Ben Larson and AnnaRae Grabstein break down the stories shaping operator strategy right now. Episode #125 dives into Ohio’s escalating “legalization meets enforcement” showdown, including an antitrust lawsuit targ...

From Olympic hockey banter to Washington politics and THC drinks at major arenas, this episode proves there’s never a slow week in cannabis. AnnaRae joins a familiar roundtable to unpack policy signals, market stress, and why beverages keep stealing the spotlight. About This Episode On this week’s edition of This Week in Cannabis Live , Jay Rosenthal is joined by Jeremy Berke, Marc Hauser, and Ann...

THC beverages are officially hitting the big leagues—and Chicago’s United Center is the proof point.  In Episode 124 of High Spirits, hosts Ben Larson and AnnaRae Grabstein sit down with Rick Schepp (GM of Beverage, Señorita   & RYTHM ) and Charles Bieler (Co-Founder, Señorita ) to unpack what it really takes to build hemp-derived THC drinks that can scale into major venues, national retail, a...

Policy and regulation across cannabis and hemp are shifting fast—and operators don’t get to pause the business while Washington debates definitions. On Episode 123 of High Spirits , Ben Larson and AnnaRae Grabstein sit down with Thomas Winstanley , EVP of edibles.com , to unpack what it actually looks like to build and operate through policy uncertainty. From the urgency of 2026 (“do or die”) to t...

In this edition of This Week in Cannabis Live , our host Ben Larson joins Jay Rosenthal & Jeremy Berke of Cultivated and Marc Hauser of Cannabis Musings for a fast-moving, no-BS conversation on the biggest stories shaping cannabis right now.  From Schedule III claims and missed DOJ deadlines to a surprise hemp bill, New York’s track-and-trace chaos, and the realities behind M&A headlines,...

Cannabis is leaving its “startup era”—and the next phase won’t be won by hype. It’ll be won by operators who can build trust, standardize the experience, and run tighter businesses in a margin-crushed market. On Episode 122 of High Spirits , hosts Ben & AnnaRae sit down with Ashwin Raj , CEO of LeafLink , to unpack what he’s seeing from the center of cannabis wholesale—where billions in transa...

Two of the most durable edibles brands in cannabis just joined forces—and the backstory is pure “mature-market grit.”  On Episode 121 of High Spirits , hosts Ben Larson & AnnaRae Grabstein sit down with Aaron Morris (Founder & CEO of Wyld) and Draper Bender (President of Grön) for their first interview together following Wyld’s acquisition of Grön. They unpack why Oregon breeds profitable...

What actually changes for cannabis in 2026—and what’s still just wishful thinking?  Join the teams from Cultivated Media , High Spirits: The Cannabis Business Podcast , and Cannabis Musings for This Week in Cannabis Live | 2026 Prediction Show .  From rescheduling realities and 280E implications to M&A strategy, hemp-derived beverages, and where not to start a cannabis business, this conversat...

New year, new signals—and cannabis is entering 2026 with policy momentum, consolidation heat, and a growing demand for real numbers (not vibes). In Episode 120 of High Spirits , hosts Ben Larson  & AnnaRae Grabstein sit down with Cy Scott , Co-Founder & CEO of Headset , to break down what 2025 actually told us—and what to watch as rescheduling moves forward and markets keep maturing. From...

It’s a cozy year-end check-in—and a clear-eyed look at what’s next. Recorded Tuesday, December 30, 2025 , Ben & AnnaRae close out the year by revisiting their 2025 predictions, unpacking what actually happened across regulated cannabis and hemp-derived THC, and setting the tone for 2026: faster, sharper, and more focused. From the surreal experience of finding cannabis policy debates in a 1969...

On this special This Week in Cannabis episode Presented by Cultivated Media , High Spirits hosts Ben & AnnaRae join Jay & Jeremy from Cultivated and Marc Hauser of Cannabis Musings to break down the biggest cannabis policy story of the year: the federal push to reschedule marijuana to Schedule III. Recorded live just days after the announcement, this conversation cuts through the hype to e...

This episode of High Spirits is a little different. Recorded live just days before a major federal shakeup, hosts Ben & AnnaRae dive headfirst into the state of cannabis media, policy uncertainty, and what survival really looks like heading into 2026. From the collapse of trusted cannabis journalism to bold predictions around Schedule III, hemp legislation, M&A, and THC beverages, this con...

Recorded live on December 5th from Las Vegas, this recording of "This Morning in Cannabis Live" brings together industry leaders, entrepreneurs, and experts for candid conversations about the current state and future of cannabis and hemp. The hosts—Jay Rosenthal, AnnaRae Grabstein, Marc Hauser, and Jeremy Berke—guide discussions on rapid business growth, regulatory challenges, market inn...

Recorded Live on December 3rd from Las Vegas, this special episode of "This Week in Cannabis" brings together industry leaders and insiders to discuss the latest trends, challenges, and opportunities in the cannabis and hemp sectors.  We dive into federal policy, market expansion, retail innovation, and the evolving landscape of cannabis journalism. Featuring in-depth interviews with ent...

The mics take a breather, but the cannabis market doesn’t. We’re wheels up for MJBizCon and our High Spirits Morning Mixer on Thursday, and then straight to BevNET, while state and federal moves reshape the map from Texas to Virginia to Minnesota to California. We start with Texas, where regulators approved nine new medical licenses in a historically tight program. It’s a modest step with big impl...

We unpack the 365-day clock facing hemp-derived THC beverages, why the category exploded, and how a policy rider vaulted prohibition-style limits into law. Martín Caballero of BevNet joins us to map realistic paths forward, where coalition power lives, and what compromises might actually work. • why hemp-derived THC drinks resonated with mainstream shoppers • how a funding bill rider created the n...

We unpack the federal push to restrict hemp products, then turn to a grounded model for the future: regenerative organic cannabis. Darren Story from Coastal Sun shares how soil health lowers costs, why OCAL matters, and how compassion and affordability can scale. • hemp policy shock and what it means for access • lessons for advocacy and industry unity • Darren’s path from blueberries to cannabis...

We explore how local elections shape cannabis policy on the ground, then dive into the real map of cannabis patents with Dr. Ruth Fisher. She explains who holds the IP, why enforcement is scarce for now, and how one big verdict could change the industry overnight. • grounding in stoicism and local civic action • breaking news on recalls and lawsuits in New York and Florida • Dr. Ruth Fisher on 10,...

We explore how hemp-derived THC beverages are redefining adult drinking, why big brands hesitate while startups build, and how “vice wellness” turns ritual into wellness-driven status. Jeff Cantalupo of Listen Ventures shares what gets a VC to yes, how portfolios form, and where retail wins. • consumer demand driving THC beverage mainstream adoption • integration of life lessons into leadership an...

For an industry built on growth and innovation, cannabis still hits a wall when it comes to something most businesses take for granted—getting paid. In this episode of High Spirits , Ben & AnnaRae sit down with Aubrey Amatelli , CEO of PayRio to unpack the tangled world of payments, banking, and fintech in “high-risk” sectors like cannabis, hemp, CBD, and even emerging markets like psilocybin....

We dig into the rise of THC beverages from dispensary side racks to big-box end caps, then peel back how Uncle Arnie’s raised $7.5M, built distribution state by state, and scaled a team while staying scrappy. Theo shares lessons on dosage, education, and why focused markets beat scattershot launches. • Target’s Minnesota pilot and retail data signals • Ohio’s 90-day hemp ban and policy risks • Unc...