The Dales Report | Trade to Black

The MORE Act is back in Congress — again. Civil rights groups, labor unions, and criminal justice advocates like the ACLU, SEIU, Drug Policy Alliance, and Last Prisoner Project have sent a fresh letter urging lawmakers to cosponsor the bill. They’re making the case that descheduling cannabis, expunging records, and reinvesting in communities harmed by prohibition is long overdue. But if this feels...

Cannabis rescheduling, new financing realities, and a major corporate move from Verano Holdings (CSE: VRNO | OTCQX: VRNOF) are front and center this week. On the Trade To Black Podcast with host Shadd Dales and Anthony Varrell, we sit down with Anthony Coniglio, CEO of NewLake Capital Partners (OTCQX: NLCP), to discuss what these developments mean for the cannabis industry. NewLake Capital (OTCQX:...

Cannabis stocks ended last week on shaky ground, with MSOS closing at $4.20 and sitting right above a key support level. The action showed how fragile sentiment remains — some NASDAQ-listed names like Organigram, Village Farms, High Tide, and SNDL held stronger, while U.S. OTC operators faced more pressure. With volatility picking up across equities more broadly, cannabis investors are now watchin...

Why hasn’t cannabis banking reform passed yet? And what’s really standing in the way of STATES 2.0 moving forward? In this episode, we break down the exact process — from bill introduction to presidential signature — so you can see clearly where things stand and what it takes to cross the finish line. No hype, no guesswork. Just the roadmap. TDR Cannabis in Five, presented by Dutchie, with host Sh...

Two headlines in Washington are driving the conversation around cannabis and hemp. A GOP-led congressional committee voted to block President Trump from moving forward with cannabis rescheduling. At the same time, Senator John Boozman said that if a strict federal hemp THC ban is enacted, “nobody will buy” those products. Both developments highlight how divided lawmakers remain on cannabis and hem...

The headlines earlier this week were big: Attorney General Pam Bondi stood with HHS Secretary RFK Jr. in Chicago to announce a federal crackdown on illicit vape sales, while DOJ quietly cut dozens of proposed rules from its regulatory agenda — but left cannabis rescheduling intact. Both stories matter. Both suggest that Washington is clearing the runway for the next move. TDR Cannabis in Five, pre...

Attorney General Pam Bondi stood alongside RFK Jr. in Chicago to announce a federal crackdown on illicit vape sales. At the same time in Washington, the Department of Justice quietly eliminated dozens of pending regulatory proposals under President Trump’s deregulation order — but left cannabis rescheduling untouched. TDR Cannabis in Five, presented by Dutchie, unpacks why these two very different...

Texas just dropped an executive order on hemp that could flip the industry on its head. On paper, it looks like regulation. In reality, it could mean the end of THCA flower in Texas, a handoff of distribution power to liquor stores, and another example of cannabis operators getting the short end of the stick. The TDR Trade to Black podcast with host Shadd Dales and co-host Anthony Varrell is back...

Could cannabis rescheduling be timed with a Federal Reserve rate cut? With Jerome Powell expected to announce lower interest rates at next week’s Fed meeting, questions are mounting about whether the Trump administration could use the moment to roll out cannabis reform. The timing would be significant—rescheduling has the potential to instantly create close to 500,000 jobs, aligning with a narrati...

Shadd Dales sits down with cannabis industry veteran Seth Yakatan to answer the question on every investor’s mind: what will the morning look like when cannabis rescheduling is announced? This isn’t theory anymore — it’s about what happens that very first day. Will U.S. cannabis stocks gap up? Do ETFs like MSOS catch fire? Or will the rally fade after the opening bell? On the business side, the co...

Shadd Dales, alongside Anthony Varrell, welcomes Michael Bronstein, president of the American Trade Association for Cannabis & Hemp (ATACH), to break down two of the biggest state stories shaping the cannabis industry right now: Pennsylvania’s adult-use legalization debate and Texas’s new hemp and vape laws. Pennsylvania cannabis legalization update 2025:Governor Josh Shapiro has made legaliza...

Shadd Dales and co-host Anthony Varrell welcome Trent Woloveck, Chief Strategy Director at Jushi Holdings (OTCQX: JUSHF | CSE: JUSH), for a big conversation about one of the most talked-about legal moves in cannabis this week. Jushi just dropped a major lawsuit in Pennsylvania aimed at shutting down the sale of intoxicating hemp-derived THC products that are being pushed outside the state’s regula...

In this episode of TDR Cannabis in Five, presented by Dutchie, host Shadd Dales reviews the latest developments in Pennsylvania as Governor Josh Shapiro continues to include adult-use cannabis legalization in ongoing budget discussions. During a visit to Lancaster, Governor Shapiro stated that legalization remains part of his plan and that he will not concede on cannabis reform, even as negotiatio...

All eyes remain on Washington and whether an announcement is going to be made soon on the rescheduling of cannabis. On the latest episode of Trade To Black prresented by Dutchie, host Shadd Dales and co-host Anthony Varrell break down the latest signals from the Trump administration and what the timing of a move could mean for the cannabis industry. The episode also highlights a major push from 32...

A new petition is urging President Donald Trump not just to reschedule marijuana—but to fully legalize it at the federal level. This bold push comes from the Drug Policy Alliance (DPA), which argues that moving cannabis to Schedule III still leaves criminalization intact and fails to address justice issues. Instead, DPA says only full descheduling—removing marijuana entirely from the Controlled Su...

Cannabis reform has long been a political promise, but real progress has been limited. Democrats campaigned on legalization, rallied young voters, and controlled Washington during President Biden’s early years. Yet the results were modest: pardons, a rescheduling review, and continued delays. Comprehensive reform never materialized. Now, in 2025, there is speculation that President Trump could tak...

Is President Donald Trump preparing to announce federal cannabis rescheduling — and could that decision come very soon? That’s the big question in Washington and across the cannabis industry right now. On today’s Trade To Black Podcast with hosts Shadd Dales and Anthony Varrell, presented by Dutchie, we’ll examine why this potential announcement is less about celebrity endorsements and more about...

Momentum around cannabis rescheduling has picked up noticeably in recent days, with several Trump-aligned voices taking to social media to signal support for reclassifying marijuana. Bruce LeVell, a longtime Trump ally, described rescheduling as “common sense reform” that empowers states and strengthens public safety. Alex Bruesewitz, a conservative strategist, called it an “80-20 issue among all...

Welcome to the TDR Trade to Black Weekly Recap of the Biggest Developments in Cannabis, hosted by Shadd Dales and presented by Dutchie. This week, cannabis news spans federal courts, state markets, and corporate earnings. At the top, a federal appeals court in Atlanta ruled that medical marijuana patients cannot automatically be stripped of their Second Amendment rights. The Eleventh Circuit decis...

Today on TDR Cannabis, and Five, hosted by Shadd Dales and presented by Dutchie, we’re covering a political shift no one saw coming: the new Republican National Committee chairman, Joe Gruters, supports cannabis legalization. Gruters, a Florida state senator, was elected RNC chair unopposed with Donald Trump’s full endorsement. Even more surprising—he openly backed Florida’s Amendment 3 cannabis i...

How close is the Trump administration to making a cannabis rescheduling announcement? What’s the word from Washington, and how would it reshape the industry? On our latest Trade To Black Podcast, hosts Shadd Dales and Anthony Varrell provide the latest news across reform, politics, and the markets. First up in Segment One, former NFL defensive end Marvin Washington makes his return to the podcast....

Big Mike Straumietis, founder and CEO of Advanced Nutrients, has been shaping cannabis cultivation since the late 1980s—long before legalization was even a conversation. On this episode of the Trade To Black Podcast, host Shadd Dales and co-host Anthony Varrell sit down with Big Mike to cover the future of cannabis rescheduling, the cultivation market, and why quality still matters in a price-driv...

Shadd Dales and co-host Anthony Varrell, powered by Dutchie, dive into two big stories making waves right now in cannabis and psychedelics. Segment One brings on Noah Hamman, Founder & CEO of AdvisorShares and Managing Director of the AdvisorShares Pure US Cannabis ETF (NYSE Arca: MSOS). For 18 straight trading sessions, MSOS has seen inflows as investors pile into U.S. cannabis equities on th...

THC beverages are no longer just a novelty product—they’re rapidly moving into the mainstream. From dispensary shelves to grocery store coolers, hemp-derived THC drinks are sparking a debate that reaches from statehouses to Capitol Hill. In this episode of Trade To Black, host Shadd Dales sits down with John Kueber, President & COO of Nevis Brands (CSE: NEVI), to explore what it will take for...

The latest episode of the TDR Trade to Black podcast, presented by Dutchie, asks the question every investor is focused on right now: how should you play cannabis stocks? With federal rescheduling potentially on the horizon and cannabis equities moving back into the spotlight, this episode delivers clear answers on the biggest catalysts and what they mean for both traders and long-term investors....