The Dales Report | Trade to Black

How has President Trump, in just the past 60 days, essentially put drug cartels on notice — through military strikes, policy shifts, and financial sanctions? From August to October 2025, his administration has declared an “armed conflict” with cartels, launched multiple naval strikes in the Caribbean, imposed terrorist designations, and revoked dozens of foreign visas. But this story isn’t only ab...

Why do so many investors get cannabis stocks wrong? Every time there’s a new headline — a state legalizing, a merger announcement, or talk of federal reform — retail investors rush in expecting big gains. But the cannabis sector doesn’t move like traditional industries. Prices spike on hype, then reality hits: delays, regulation, and volatility that shake out the impatient. TDR Cannabis in Five, p...

Shadd Dales and Anthony Varrell welcomes Gretchen Gailey, one of Washington’s most connected insiders on Capitol Hill for cannabis reform. Gretchen joins the show to share the latest insight on cannabis rescheduling — what she’s hearing in D.C., how the government shutdown could affect timing, and whether President Donald Trump still plans to move forward after his August 11 comment promising a de...

BREAKING: Glass House Brands (OTCQX: GLASF), one of America's largest cannabis producers, just became available for trading on Robinhood - marking a historic shift in cannabis investing accessibility. For years, federal restrictions kept U.S. cannabis stocks off Robinhood's platform. Now that's changing, opening the door for millions of retail traders to access cannabis investments lik...

Governor Ron DeSantis is acknowledging what Floridians have known for years — the majority of voters support legalizing cannabis. But instead of shifting his stance, he’s doubling down on opposition. So why now? Why concede public sentiment, only to reject it? This episode unpacks the political timing behind DeSantis’ latest comments, what it reveals about GOP strategy heading into 2026, and how F...

So here’s the question: what happens when even Governor Ron DeSantis admits that marijuana legalization is popular with Florida voters — but still refuses to support it? In today’s episode, we break down the governor’s latest comments to Marijuana Moment, what they reveal about Florida’s 2026 political landscape, and whether the state’s adult-use ballot initiative could reshape the entire southeas...

At a recent Virginia gubernatorial debate, cannabis became the main point of contention between Democratic frontrunner Abigail Spanberger and Republican nominee Winsome Earle-Sears. Spanberger said she supports creating a regulated adult-use cannabis market, arguing the state should stop pretending prohibition works and use tax revenue to benefit local communities. Earle-Sears, while supportive of...

What happens when state politics, tribal sovereignty, and cannabis reform collide? This week’s headlines capture how far — and how divided — the U.S. cannabis debate has become. From a heated Senate showdown in North Carolina over the Cherokee Nation’s legal cannabis operations, to Florida’s new fight for medical patient protections and a landmark court ruling that changes how police handle cannab...

What happens if cannabis legalization — or even federal rescheduling — ultimately fails? Nine months into the Trump presidency, the cannabis world is still waiting. The Biden administration’s recommendation to move cannabis from Schedule I to Schedule III was supposed to change everything — eliminating the 280E tax burden, opening investment back up, and legitimizing an industry that’s been fighti...

What happens when the world’s biggest cannabis markets start rolling back reform while others surge ahead? This week, global cannabis headlines reveal a world divided — with Germany tightening access, Spain finally approving medical use, Australia hitting record imports, and Thailand reversing course entirely. The question now: is global cannabis moving forward or falling back into politics? In th...

On the latest episode of Trade To Black presented by Dutchie, hosts Shadd Dales and Anthony Varrell break down the latest rumors surrounding federal cannabis rescheduling—plus chatter that Canaccord Genuity could be relaunching coverage on several leading U.S. MSOs. We’ll also be joined by Organigram Global’s (NASDAQ: OGI) senior leadership — Megan McCrae (SVP of Corporate Strategy) and Borna Zlam...

Trump’s newly nominated Drug Czar, Sara Carter, just cleared a key hurdle in the Senate — and her remarks are already shaking up the cannabis industry. Carter has voiced support for medical marijuana and expanded research access, but she stopped short of endorsing federal rescheduling. That silence is raising serious questions about how far the Trump administration plans to go on cannabis reform....

Could Virginia be the next big catalyst for U.S. cannabis legalization? According to new reporting from Marijuana Moment, lawmakers in Virginia are already drafting regulations and reviewing licensing structures to prepare for adult-use cannabis sales. If Democrat Abigail Spanberger wins the governor’s race this November, retail sales could begin as early as 2026 — and that could mark a turning po...

How deep does the hemp fraud problem really go — and why isn’t Washington doing anything about it? Across the U.S., billions of dollars in hemp-derived THC and THCa flower are being sold under the guise of “compliant hemp.” But according to testing data analyzed by compliance expert Kirk Barry, 99% of THCa flower products exceed the legal THC limit under federal law. The result? An unregulated gra...

What happens when a state taxes its own cannabis market out of existence? That’s the question Michigan’s industry is facing after lawmakers approved a 24% wholesale cannabis tax, a move projected to raise $420 million annually — but one that could push many operators to the brink. In this episode of TDR Cannabis in 5 presented by Dutchie, host Shadd Dales breaks down why this tax hike has sparked...

What’s really holding up President Trump’s cannabis rescheduling decision? Lawmakers are calling it a “game changer,” markets are ready, and the science is done—so why hasn’t it happened yet? That’s the question at the center of today’s discussion. In this episode of TDR Cannabis in Five presented by Dutchie, host Shadd Dales breaks down the latest pressure from Capitol Hill as Republican Senators...

Should cannabis users lose their right to own a gun—just because federal law still refuses to treat marijuana like alcohol? That’s the question now facing the U.S. Supreme Court, and the answer could redefine what freedom really means in modern America. The case of Erik Harris, prosecuted for admitting marijuana use while buying a firearm, has become a national flashpoint—testing how far Washingto...

What happens when the world’s biggest cannabis market draws a line in the sand — saying no more to unregulated intoxicating hemp products? Governor Gavin Newsom just signed California’s Assembly Bill 8, merging hemp and cannabis under one regulated system. This might sound like a small legal fix, but it could transform how THC, hemp, and marijuana are defined nationwide. So what does this mean for...

Big update out of Florida: a state appeals court just ruled that police can’t automatically search a vehicle solely based on the smell of marijuana. It might sound like a small tweak, but this decision overturns years of precedent — and it could change how cannabis laws are enforced across the U.S.In this episode of TDR Cannabis in Five presented by Dutchie, host Shadd Dales breaks down what the c...

Can cannabis for seniors really reshape U.S. health care? And what happens when California, Texas, and Washington all push new hemp and cannabis rules in the same week? This week, the headlines are packed — from President Trump’s Truth Social post sparking fresh debate to major corporate updates from Verano, Village Farms, and Cannara Biotech that show how the industry keeps evolving. TDR Trade To...

California hemp law 2025, AB 8 hemp bill, Delta-8 ban California, hemp THC regulation, Gavin Newsom cannabis bill, California cannabis reform, intoxicating hemp crackdown, cannabis market regulation, hemp vs cannabis policy, cannabis industry newsIn this episode on TDR Cannabis in Five, presented by Dutchie, California just changed the game. Governor Gavin Newsom has officially signed Assembly Bil...

What does the latest data from Europe tell us about the future of global cannabis reform? This week, Germany released its first official legalization review, Spain is on the brink of approving medical cannabis, and Portugal faces pressure to restore credibility in its struggling industry. Across the EU, Latin America, APAC, and Africa, governments are making moves that could reshape how cannabis i...

Right now, all eyes are on Washington. Ongoing rumors suggest cannabis could soon be rescheduled from Schedule I to Schedule III — a move that would effectively end the 280E tax burden and restructure the credit profiles of major MSOs. For operators, that could mean access to lower rates, improved balance sheets, and the ability to refinance costly debt. We’ll ask Coniglio how NewLake Capital is p...

California Governor Gavin Newsom recently joked that if he were the “leader of the free world,” he’d legalize cannabis and get Americans “high on patriotism.” Funny line, sure — but the real story is the politics behind it. For years, Democrats have campaigned on cannabis reform and delivered little to nothing. From Obama to Biden, promises of decriminalization, banking access, and legalization ha...

Roger Stone is making headlines again, this time with bold statements about Trump and the future of cannabis in America. In this episode of TDR Cannabis in Five, presented by Dutchie, we dive deep into Stone’s claims that Donald Trump could “outdo Democrats” by rescheduling cannabis at the federal level. But is this just political theater, or could it signal a real shift in cannabis policy? We rev...