The Dales Report | Trade to Black

Former Congressman Matt Gaetz just set off a bomb today in the cannabis industry. Gaetz tweeted out that the DEA is drafting a rule to reschedule cannabis, and are moving it ASAP.Is there some truth to this? In our latest Trade to Black podcast, presented by Flowhub, host Shadd Dales and Anthony Varrell will break down this this announcement, along with several other key developments in the cannab...

What does cannabis going mainstream actually look like in real time? In this episode of TDR Cannabis in Five, presented by Flowhub, we look at one of the clearest cultural and commercial signals yet: the largest entertainment arena in the United States has approved the sale of hemp-derived THC beverages at concerts and live events. The United Center in Chicago — home to the Chicago Bulls, Chicago...

What actually has to happen before cannabis can be rescheduled at the federal level — and what should people be watching for right now? In this episode of TDR Cannabis in Five presented by Flowhub, host Shadd Dales walks through the real administrative process behind marijuana rescheduling, step by step, in the order it has to happen. There’s been plenty of debate and plenty of timeline talk, but...

On this episode of Trade To Black presented by Flowhub, hosts Shadd Dales and Anthony Varrell are joined by Michael Bronstein, President of ATACH, to break down what could be a key inflection point for U.S. cannabis and hemp policy. They dig into a bipartisan hemp bill introduced by Rep. Morgan Griffith and what it could mean for intoxicating hemp-derived products like Delta-8, Delta-10, THCA, and...

This week’s TDR Weekly Recap, presented by Flowhub, focuses on where federal cannabis reform stands now — and what the industry is watching next — alongside key company developments heading into 2026.On the policy front, the White House publicly included cannabis rescheduling as one of President Donald Trump’s first-year accomplishments following last month’s executive order directing the Departme...

What’s actually happening with cannabis research at the federal level — and why does it matter right now? In this episode of TDR Cannabis in Five, the focus turns to a quieter but critical development tied directly to federal cannabis reform. While much of the attention has been on marijuana rescheduling, a key deadline tied to cannabis research quietly passed without action. The U.S. Attorney Gen...

This week’s TDR Weekly International Recap, presented by Prohibition Partners, takes a focused look at how global cannabis markets are evolving as regulation, consolidation, and compliance continue to shape the industry in 2026.With international attention firmly on Europe and Australia, several developments stand out. In Australia, a major medical cannabis merger is set to create one of the world...

In this episode of Trade To Black, presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down one of the most important — and often misunderstood — debates in U.S. cannabis policy: youth access, regulation, and what the data actually shows. The conversation begins in Massachusetts, where state officials rejected a challenge to roll back marijuana legalization following allegations of d...

Is a regulated CBD program—potentially tied to Medicare—about to reshape who wins in U.S. cannabis? On the latest TDR Trade To Black, host Shadd Dales and co-host Anthony Varrell sit down with Micah Anderson, CEO of LEEF Brands (CSE: LEEF | OTCQB: LEEEF) for a grounded conversation about what could be coming next if Washington moves toward a structured, federally guided CBD framework. With cannabi...

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 its...

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 si...

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 applic...

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...

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 Eur...

Why is alcohol getting softer federal guidance while marijuana is still treated like a crime? In this episode of TDR Cannabis in Five, presented by Flowhub, host Shadd Dales breaks down a federal policy shift that perfectly captures the contradictions still baked into U.S. cannabis law. The Trump administration has quietly revised federal dietary guidelines on alcohol — removing specific daily dri...

What’s actually happening with medical cannabis reform in Europe right now — and why should operators and investors be paying attention? In this week’s TDR Cannabis in Five – Weekly International Update, presented by Prohibition Partners, host Shadd Dales breaks down two of the most important medical cannabis developments unfolding in Germany and France. These are not fringe markets. They’re two o...

Are we heading toward more cannabis reform… or more resistance? In our lastest Trade to Black presented by Flowhub host Shadd Dales & Anthony Varrell run down the biggest headlines in the cannabis industry. They begin with news out of the state of Virginia, where lawmakers have introduced a new bill that would legalize adult-use cannabis sales and raise possession limits. Meanwhile in the nati...

Is the hemp industry actually running out of time — or is this just another Washington scare headline? In this episode of TDR Cannabis in Five, the focus turns to one of the most misunderstood stories in cannabis right now: the fight over intoxicating hemp products and a looming federal ban that could reshape the entire cannabinoid market by late 2026.On paper, it looks simple. A provision buried...

What actually separates cannabis operators that scale from the ones that hit a wall? In this episode of TDR Cannabis in Five, the focus shifts back to cultivation — and not in a glossy, headline-driven way. As rescheduling stays in the conversation and consolidation starts to matter more in 2026, the industry is moving past licenses and store counts. The real conversation is about repeatability, c...

In our latest Trade to Black podcast presented by Flowhub with Shadd Dales and Anthony Varrell, they target why institutional capital is still waiting on the sidelines to buy cannabis stocks. John Pinto, Founder and Managing Member from Soje Capital joins us to explain more into detail as to why that is the case despite all the reform headlines. They'll discuss why rescheduling alone doesn’t a...

Why is branding becoming one of the most important separating factors in the cannabis industry as we move deeper into 2026?This episode of TDR Cannabis in Five takes a closer look at how the cannabis market is shifting from survival mode into a more mature, consumer-driven phase — and why brand identity is starting to matter as much as cultivation, pricing, or retail footprint. For years, cannabis...

Which states are actually positioned to legalize marijuana in 2026 — and which ones just keep showing up in headlines without real momentum? That’s the question this episode of TDR Cannabis in Five, presented by Flowhub, takes on using new reporting and data highlighted by Marijuana Moment. With federal cannabis rescheduling hanging in the balance, state-level reform is back in focus — and in some...

So… is cannabis rescheduling actually happening, or are we stuck watching another slow-motion government process? That’s the question a lot of people are asking right now — especially after the DEA confirmed the rescheduling appeal process is still technically pending, even after President Trump’s executive order. On the surface, that sounds like a delay. But once you slow things down and look at...

Is federal cannabis rescheduling actually moving forward — or are we still waiting on Washington to show its hand? We’ll start with the latest comments from a GOP congressman pushing back on concerns that cannabis rescheduling is stalled, saying President Trump made it clear the Department of Justice must act. That raises an important question: if the directive is clear, what happens next — and wh...

What happens after cannabis rescheduling — once the headlines fade and operators are left to actually scale? In this episode of TDR Cannabis in Five, host Shadd Dales kicks off a new series focused on the less talked-about side of a post-rescheduling cannabis industry: infrastructure, cash flow, and execution. Because if rescheduling does move forward, the biggest challenge won’t be access — it’ll...