The Dales Report | Trade to Black

In this Trade To Black livestream presented by Flowhub, host Shadd Dales and Anthony Varrell sit down with Michael Bronstein, President of the American Trade Association for Cannabis and Hemp, for another round of the Weekly Insider’s Edge — and there’s a lot happening right now. First up — Texas. A judge has officially paused new rules that would have banned smokable hemp products like THCA flowe...

A big week for the cannabis industry — and this one touches policy, markets, and a major shift in consumer behavior. In the latest Trade To Black podcast presented by FRE Pouch, host Shadd Dales breaks down what’s really moving the space right now. Out of Washington, the biggest story continues to be execution risk around cannabis rescheduling. With Pam Bondi out and Todd Blanche stepping in as Ac...

There’s a lot of frustration building around cannabis rescheduling right now — and honestly, it’s understandable. But is it actually delayed? Or does it just feel that way? In this episode of TDR Cannabis in Five, presented by Flowhub, Shadd Dales cuts through the noise and gets straight to what the facts actually show. Because there’s a big difference between a process that’s stalled and a proces...

A lot happened in cannabis this week and Shadd Dales breaks it all down in the latest Trade To Black Weekly Recap, presented by FRE Pouch. The biggest story? Who ends up as the next U.S. Attorney General could literally decide whether cannabis rescheduling gets done or stalls out. Todd Blanche is holding it down as Acting AG and by most accounts he’s pragmatic, knows the file, and is seen as a pos...

A federally funded study may have just changed the cannabis conversation in a big way. In this episode of TDR Cannabis in Five, presented by Flowhub, host Shadd Dales breaks down a potential breakthrough in marijuana breathalyzer technology — and what it could mean for law enforcement, cannabis policy, and the broader industry. Researchers backed by the U.S. Justice Department have developed a por...

Idaho lawmakers are making a move that has the cannabis industry talking. While nearly every state in the country has already embraced some form of medical cannabis, Idaho legislators are actively asking voters to reject a ballot initiative that would finally bring a regulated medical program to the state. In this episode of TDR Cannabis in Five, presented by Flowhub, host Shadd Dales breaks down...

Host Anthony Varrell sits down with Adam Stettner, Founder and CEO of FundCanna, the leading cannabis-focused lender that has approved over $300 million in funding across 40 states for cultivators, manufacturers, distributors, retailers, and ancillary businesses. In this episode, we break down the biggest cannabis headlines of the week — starting with the social equity story that operators and inv...

Missouri is on the verge of making a major move — and it could have ripple effects across the entire U.S. cannabis and hemp markets. In this episode of TDR Cannabis in 5, presented by Flowhub, Shadd Dales breaks down a new bill that would effectively ban most intoxicating hemp-derived THC products in the state. That includes delta-8, THC beverages, and other hemp-derived products that have become...

A couple interesting stories this week — and a bigger conversation around how cannabis is actually being regulated in the U.S.In the latest Trade To Black podcast, presented by Flowhub, Shadd Dales and Anthony Varrell are joined by Kyle Sherman, CEO of Flowhub, to break down what’s happening across policy, technology, and enforcement. One story getting attention is a federally funded study showing...

There’s a headline circulating right now suggesting cannabis rescheduling could be delayed — but the reality is very different. In this episode of TDR Cannabis in 5, presented by Flowhub, Shadd Dales breaks down a Marijuana Moment story that has been getting attention across the industry, and explains why the framing is misleading. The article references a DEA filing confirming that an administrat...

A lot to unpack in this one — earnings, refinancing, and what’s actually happening in Washington right now. In the latest Trade To Black podcast, presented by Flowhub, Shadd Dales and Anthony Varrell are joined by Jim Cacioppo, CEO of Jushi Holdings (CSE: JUSH) (OTCQX: JUSHF), along with Chief Strategy Officer Trent Woloveck. Jushi put up $262.9 million in full-year revenue, with improving EBITDA...

A major shift at the Department of Justice is now putting cannabis rescheduling back in focus — and this time, the tone feels different. In the latest TDR Cannabis in 5, presented by Flowhub, Shadd Dales breaks down what President Trump’s decision to remove Pam Bondi and install Todd Blanche as Acting Attorney General could mean for the future of cannabis policy. According to new reporting, Trump...

A major shakeup at the Department of Justice is now front and center — and it could have real implications for cannabis rescheduling. In the latest Trade To Black podcast, presented by Flowhub, Shadd Dales and Anthony Varrell are joined by Michael Bronstein, President of the American Trade Association for Cannabis and Hemp (ATACH), to break down what Pam Bondi’s firing means for U.S. cannabis poli...

A major shift is taking place in Washington — and this time, it’s focused on enforcement. In this episode of TDR Cannabis in 5, presented by Flowhub, Shadd Dales breaks down what came out of the first-ever White House meeting focused specifically on cannabis and hemp product enforcement. After years of fragmented oversight, federal agencies including the FDA and DOJ are now actively working toward...

A major DOJ shakeup, a sweeping hemp crackdown in Texas, and a busy week of earnings across the cannabis sector — this recap covers it all. In the latest Trade To Black podcast, presented by FRE Nicotine Pouches, host Shadd Dales break down one of the most eventful weeks the industry has seen in some time. The episode starts in Washington, where President Trump has fired Attorney General Pam Bondi...

A major shift is happening in Washington — and this time, it directly involves federal healthcare. In this episode of TDR Cannabis in 5, presented by Flowhub, Shadd Dales breaks down the launch of a new Medicare-backed pilot program led by Dr. Mehmet Oz that will allow coverage for hemp-derived CBD products — with the potential to expand into THC-related products over time. This marks a significan...

Not all cannabis headlines are negative — and this episode takes a step back to focus on what’s actually working. In this special Good Friday edition of TDR Cannabis in 5, presented by Flowhub, Shadd Dales highlights five positive developments shaping the cannabis industry so far in 2026.The episode starts with a major shift at the federal level, where CBD policy is finally beginning to take shape...

A major shakeup in Washington — and it could have real implications for cannabis policy. In this episode of TDR Cannabis in 5, presented by Flowhub, Shadd Dales breaks down the removal of former Attorney General Pam Bondi and what it could mean for the future of cannabis rescheduling in the United States. The decision comes after growing frustration inside the administration over delays tied to mo...

In the latest Trade To Black podcast, hosts Shadd Dales and Anthony Varrell shift the focus back to earnings and the broader health of the cannabis industry — looking beyond the usual headlines around reform and rescheduling. This episode features a conversation with Peter Sack, CEO of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) & Chicago Atlantic BDC, Inc. (NASDAQ: LIEN), offeri...

A lawsuit filed… and then rejected less than 24 hours later. In this episode of Trade To Black, presented by Flowhub, host Shadd Dales and Anthony Varrell break down one of the more surprising developments out of Washington this week. After Smart Approaches to Marijuana (SAM) moved to block the Trump administration’s Medicare coverage pilot for hemp-derived CBD and low-dose THC products, a federal...

A new lawsuit in Washington is putting a spotlight on where cannabis, healthcare, and federal policy are all starting to collide. In this episode of TDR Cannabis in 5, presented by FRE Nicotine Pouches, Shadd Dales breaks down a legal challenge filed by Smart Approaches to Marijuana (SAM), aimed at blocking the Trump administration’s proposed Medicare pilot program for hemp-derived CBD and low-dos...

White House meetings… FDA policy… and cannabis rescheduling all happening at the same time. In this episode of TDR Cannabis in 5, presented by Flowhub, Shadd Dales breaks down a developing story out of Washington that the entire cannabis industry is watching closely. According to new reporting, the Office of Management and Budget is hosting a series of high-level meetings with cannabis operators,...

New York is marking five years of legalization with more than $3.3 billion in total cannabis sales, while pressure continues to build across the U.S.—from Congress demanding answers on rescheduling to new signals out of Indiana that the debate is far from settled. In this episode of Trade To Black presented by Flowhub, host Shadd Dales and Anthony Varrell walk through the latest developments shapi...

In a market where everything feels red… the ETF landscape is telling a clearer story. In today’s episode of TDR Cannabis in 5, presented by Flowhub, we step back from individual stocks and look at how cannabis ETFs have actually performed over the same timeframe — from late August through today. And the reality is pretty straightforward. AdvisorShares Pure US Cannabis ETF (NYSEARCA: MSOS) is down...

Three months later… and still no update. In today’s episode of TDR Cannabis in 5, presented by Flowhub, we break down the growing pressure on the Department of Justice as delays continue around federal cannabis rescheduling. Back on December 18th, President Donald Trump signed an executive order directing the DOJ to move cannabis from Schedule I to Schedule III. At the time, markets reacted quickl...