The cannabis industry is sprinting toward major U.S. stock exchanges, but a high-stakes showdown in Washington could completely rewrite the rules of the game.

On this episode of This Week in Cannabis Live, host Jay Rosenthal and the Cultivated Media team (Jeremy Berke) are joined by regular panel experts AnnaRae Grabstein (High Spirits) and Marc Hauser (Cannabis Musings) to break down a massive transparency battle unfolding at the DEA.

As major operators find creative new legal pathways to land on the NYSE, the federal government is preparing to hold its historic Schedule III rescheduling hearings entirely behind closed doors. From "prohibitionist theater" in DC to trade association collapses in Canada, the panel cuts through the noise to show operators, entrepreneurs, and executives where the industry is actually heading.

What You’ll Learn:

• The "Medical-Until-Retail" Loophole: How Glass House Brands followed Trulieve's fast follow to the NYSE by deconsolidating its supply chain, and what it means for up-supply chain operators.
• The DEA’s Secret Hearings: Why the public and media are being locked out of the historic Schedule III rescheduling trial, and the grassroots legal effort to force a live stream.
• The Skepticism Behind Schedule III: Will the DEA actually defend cannabis reform in court, or are we witnessing performative prohibitionist theater?
• Why Trade Associations are Failing: What the sudden shutdown of the Cannabis Council of Canada teaches us about fractured supply chain desires and industry normalization.
• The Federal Lobbying Boom: Why Washington lawyers and lobbyists are the biggest financial winners of the current regulatory whiplash.

Meet the Panel:

• Jay Rosenthal & Jeremy Berke: Co-founders of Cultivated Media, the leading daily briefing for cannabis business and policy professionals.
• AnnaRae Grabstein: Regular panel guest, cannabis compliance expert, and co-host of High Spirits: The Cannabis Business Podcast.
• Marc Hauser: Cannabis legal strategist and author of Cannabis Musings.

Why Tune In?

If you are an operator trying to project your 2026 tax burden, a hemp brand surviving daily regulatory whiplash, or an investor tracking macro capital inflows, this breakdown is essential. The Cultivated panel uncovers the hidden structural risks of asset deconsolidation and gives you a front-row seat to the most consequential federal drug policy battle in fifty years.

Have a question for us? Send us a text. We may answer it in the next show!

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High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspiritspod.com and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Live from the media stage at IgniteIt Chicago, High Spirits co-host AnnaRae Grabstein conducts five lightning-round interviews with the industry’s sharpest minds. From the realities of major M&A integration and enterprise AI deployment to a wild on-stage metaphor involving a literal caterpillar, this special bonus episode captures the exact energy, momentum, and anxiety of the current market.

Featuring insights from Patrick Lane, Ed Keating, Sarah McLaughlin, Jordan Eisenstat, and Dr. Lucas McCann.

What You’ll Learn:

• Data-Driven AI: How Claude and custom AI tools are replacing manual analytics for conference organizers and content creators.
• Navigating Consolidation: The operational reality of merging with your top competitor and how to manage staff during a surprise buyout.
• Formulation & Hemp Risk: Why the upcoming November hemp regulations are forcing a strategic pivot for edible and beverage brands.
• The Global Opportunity: How Canadian export data shows a clear survival blueprint for lean American operators looking overseas.

Why Tune In?

Get a seat on the expo floor and hear exactly how top cannabis executives, PR strategists, and scientists are preparing their businesses for the next 12 months of federal policy changes.

Timestamps:

0:00 - Live Podcast Kickoff with Patrick Lane (IgniteIt)

5:30 - M&A Data & Vendor Shakeouts with Ed Keating (Emerald Intel)

14:25 - Why Gummies Dominate the Market with Sarah McLaughlin (Melt Make)

20:45 - AI Disrupting PR Workflows with Jordan Eisenstat (Marino PR)

29:20 - Bold Policy Forecasts & Global Markets with Dr. Lucas McCann (CannDelta)

36:30 - Final Wrap-Up

Have a question for us? Send us a text. We may answer it in the next show!

--
High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspiritspod.com and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

The federal government has officially rewritten the history books by shifting medicinal cannabis to Schedule III—and Glass House Brands is making a massive, unprecedented chess move to capitalize on it.

About This Episode

In this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with Graham Farrar, Co-Founder, President, and Chief Cannabis Officer of Glass House Brands. Graham breaks down Glass House’s recent structural deconsolidation to position itself as a 100% medicinal company ready for a historic NYSE up-listing. The trio dives deep into why the DEA's recent actions aren't standard bureaucracy, how the Dormant Commerce Clause will eventually force a 50-state open market, and why the West Coast is uniquely positioned to dominate the global cannabis stage.

What You’ll Learn

• The Deconsolidation Strategy: Why Glass House split its retail operations from cultivation to align with federal Schedule III protections and target a major US stock exchange listing.
• Reading the DEA’s Playbook: Inside the unexpected speed, proactive drug code updates, and "pendency rules" that show the current administration’s true intention to move fast.
• The Dormant Commerce Clause & Interstate Trade: Why state-level protectionism will inevitably fall, and how shipping bulk, non-final form cannabis circumvents current regulatory gridlocks.
• The European Premium: Graham's key takeaways from Berlin on why international markets are willing to pay a premium for California culture and sun-grown genetics.

Meet the Guest

Graham Farrar is the President, Co-Founder, and Chief Cannabis Officer of Glass House Brands (NEO: GLAS.A.U) (OTCQX: GLASF), one of the largest vertically integrated cannabis companies in the United States. A serial entrepreneur and tech alumnus (including being part of the founding teams at Software.com and Sonos), Graham has spent the last decade building Glasshouse into a powerhouse that operates the largest legal greenhouse facility in the world in Carpinteria, California. Beyond cannabis, he is a dedicated music enthusiast who served on the board of the Santa Barbara Bowl for 18 years.

Why Tune In?

If you are an operator, investor, or executive waiting for "the other shoe to drop" on scheduling, this episode is a blueprint for proactive leadership. Learn how the biggest players are shifting from a defensive posture to an offensive, global scale strategy before the ink on federal reform is even dry.

Have a question for us? Send us a text. We may answer it in the next show!

--
High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspiritspod.com and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Cannabis Business News Roundup w/ Ben & AnnaRae

The landscape of cannabis and hemp policy is shifting beneath our feet faster than ever, forcing operators to constantly adapt to changing regulatory enforcement and market expansions. In this rapid-fire roundup, hosts Ben Larson and AnnaRae Grabstein dial in from across the country to break down the massive institutional shifts happening this week in public markets, state enforcement, and national policy.

In this episode, Ben joins directly from a break at the invitation-only CANRA (Cannabis Regulators Association) meeting in Oklahoma City to share what regulators are saying behind closed doors about cannabinoid access. Together, they unpack the structural drag of Metric track-and-trace fees, the strategic pivot toward debt over equity capital, and the industry-altering milestone of Trulieve listing on the New York Stock Exchange. They also discuss California's clunky new voluntary AI packaging review tool, state-level updates from Louisiana and Idaho, and a hopeful push toward contiguous, multi-state laboratory testing standards.

What You’ll Learn:

• Behind the Scenes at CANRA: What state regulators really think about where hemp and cannabis cannabinoids should be sold.
• The Track-and-Trace Financial Drag: Why operators and regulators alike are pushing back against the operational costs of Metric data-point fees.
• Trulieve on the NYSE: What Trulieve’s historic New York Stock Exchange debut means for cannabis public equities and broader market liquidity.
• AI vs. Regulatory Reality: A critique of the California DCC's new voluntary AI image tool designed to flag youth-appealing packaging.

Why Tune In? This conversation delivers unfiltered, executive-level context on the financial and regulatory infrastructure changes that will dictate how your business secures capital, designs packaging, and moves product across state lines.

Have a question for us? Send us a text. We may answer it in the next show!

--
High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspiritspod.com and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

As the cannabis industry matures, the conversation is shifting from basic intoxication to precise, effect-based wellness. But how do we bridge the gap between consumer anecdotes and true scientific validation for minor cannabinoids?

About This Episode

In this episode of High Spirits, Ben Larson and AnnaRae Grabstein sit down with Alleh Lindquist, CEO of FloraWorks, to explore the rapidly evolving landscape of minor cannabinoids. Alleh shares how FloraWorks transitioned from a wholesale supplier to a clinical research pioneer, paving the way for CBN to become a mainstream, trusted ingredient in the global wellness market. They dive deep into the regulatory hurdles of the upcoming hemp landscape, the reality of running a 1,000+ person clinical trial, and the incredible therapeutic potential of CBN beyond sleep.

What You’ll Learn

• The Clinical Blueprint for Cannabinoids: Why a 50mg dose of pure CBN outperformed melatonin in a landmark double-blind, placebo-controlled sleep study—and what this means for product formulation.
• Navigating the Regulatory Gray Zone: How to structurally and legally position structure-function claims (like "improving sleep quality") on product packaging without triggering FDA disease claims.
• The Future of Cannabinoid Research: A look into FloraWorks’ ground-breaking collaboration with the Salk Institute, where CBN is showing massive potential in reversing age-related cognitive decline and protecting neural pathways.
• Embracing Uncertainty as a Leader: Actionable advice on how operators can survive current market instability while building a 10-year vision for a stigma-free, mature industry.

Meet the Guest

Alleh Lindquist is the CEO of FloraWorks, a specialized cannabinoid data and technology company dedicated to the clinical verification and commercialization of minor cannabinoids. Under his leadership, FloraWorks has standardized its patented manufacturing processes to approach FDA dietary ingredient pathways and pioneered massive real-world evidence trials. Alleh is a recognized voice in navigating frontier markets, dedicated to collaborating with researchers, clinicians, and major brands to professionalize the cannabinoid supply chain.

Why Tune In?

If you are an operator, entrepreneur, or investor looking to understand how the cannabinoid market will survive shifting regulations and integrate into the broader healthcare and dietary supplement spaces, this conversation provides the ultimate scientific and strategic roadmap.

Have a question for us? Send us a text. We may answer it in the next show!

--
High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspiritspod.com and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

This week on This Week in Cannabis Live, Jay Rosenthal, Jeremy Berke (Cultivated), plus Ben Larson of High Spirits and Marc Hauser of Cannabis Musings, break down the biggest stories in cannabis business and policy.

• New York's fiscal 2027 state budget locks in roughly $10 million for the seed-to-sale track and trace system — a win Cultivated first reported after an interview with Assemblymember Landon Dais.
  
  
• Curaleaf announced a 1-for-3 reverse stock split ahead of a potential Nasdaq uplisting, with CEO Boris Jordan targeting a major U.S. exchange as the company consolidates its share price.
  
  
• And a federal judge dismissed SAM's lawsuit challenging the Trump administration's Medicare hemp coverage program, ruling the group lacked standing to challenge the CMS initiative covering up to $500 in hemp-derived products annually for eligible patients.
  
  

Plus, Jay shares highlights from Thursday's Midwest Cannabis Forum in Chicago.

This Week in Cannabis Live airs every Friday at noon ET/9 AM Pacific on LinkedIn and YouTube. Subscribe at cultivated.news!

Have a question for us? Send us a text. We may answer it in the next show!

--
High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspiritspod.com and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Nothing in the cannabis and hemp markets moves in a straight line, and lately, the operational whiplash has been more intense than ever. In this unpolished and deeply personal episode, hosts Ben Larson and AnnaRae Grabstein step away from the usual guest format to unpack what it actually takes to lead when the industry forces you to slam on the brakes.

About This Episode

In Episode 139, Ben and AnnaRae pull back the curtain on their own recent business realities, reflecting on the transition from the hyper-growth of hemp beverages in '24 and '25 to the pragmatism required in 2026. They dive into the personal tax of saying "yes" to the wrong revenue, the power of setting firm operational boundaries, and how the introduction of AI is fundamentally restructuring executive advisory teams. This raw conversation offers a real-time case study in founder reinvention, governance, and maintaining a high-spirits mindset during economic and regulatory contraction.

What You’ll Learn

• The Power of Discernment: When turning down high-dollar contracts can actually create the critical operational space needed to support your core portfolio.
• Surviving the Whiplash: Strategic tactics for transitioning your leadership style from an optimistic growth founder to a pragmatic, survivalist CEO.
• AI as an Executive Advisory Board: How to build a digital brain trust to rapidly stress-test business decisions without the overhead of expanded human teams.
• What "Adulting" in Cannabis Means: Why consistency, transparency, and building data-backed trust with your board outweighs performative professionalism in volatile markets.

Why Tune In?

If you are a cannabis or hemp operator currently navigating market realignments, board dynamics, or shifting regulatory headwinds, this episode provides the grounded validation and strategic fundamentals necessary to trade fear-based opportunism for sustainable, long-term business health.

Have a question for us? Send us a text. We may answer it in the next show!

--
High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspiritspod.com and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

In an industry squeezed tight by relentless global price compression, cannabis operators can no longer afford to pay a premium for operational inefficiency. Yet, an invisible enemy is quietly draining up to 40% of cultivation yields across the country.

About This Episode

In this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein go back to the roots of the industry to explore the critical, often misunderstood world of plant genetics and pathogen prevention. They sit down with Melanie Nash, CEO of TUMI Genomics, to pull back the curtain on how commercial operations are inadvertently spreading devastating crop diseases and why treating pathogen management as a business system—rather than a crisis response—is the ultimate lever for protecting wholesale profit margins.

What You’ll Learn

• The Invisible Profit Killers: The big three pathogens—Hop Latent Viroid (HLVd), Fusarium, and Pythium—and why HLVd alone is costing untested facilities roughly 1 in every 10 pounds produced.
• The Tissue Culture Myth: Why standard tissue culture is just "mini-cloning" and the crucial scientific difference behind true apical meristem tissue culture for cleaning genetics.
• Ag-Style Operational Infrastructure: How sophisticated cultivators are shifting away from risky, time-consuming in-house pheno-hunting to focus on strict quarantine and preventative testing protocols.
• CEO Evolution & Scaling with AI: How Melanie transitioned from a hands-on COO to a strategic CEO using the EOS framework, while leveraging data and AI to build predictive pathogen tracking models.

Meet the Guest

Melanie Nash is the Chief Executive Officer of TUMI Genomics. She brings over a decade of deep operational infrastructure experience across the cannabis supply chain, moving from early retail management to leading large-scale nursery operations in California. Previously serving as COO at Dark Heart Nursery—where her team first identified Hop Latent Viroid in cannabis—and later as COO at Purple City Genetics, Melanie possesses a rare blend of deep scientific credibility, operational instinct, and a passion for helping cultivators build scalable, disease-free business models.

Why Tune In?

If you are a cannabis executive, entrepreneur, or cultivation director, this episode is a masterclass in operational risk management. You will walk away with actionable insights on how to secure your supply chain, audit your testing lab’s scientific validity, and stop catastrophic crop losses before they hit your P&L.

Have a question for us? Send us a text. We may answer it in the next show!

--
High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspiritspod.com and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.