• ALJ Julius Locks in August 17th Filing Deadline | TTB Presented by Flowhub
    Jul 21 2026
    In our latest Trade to Black podcast presented by Flowhub, Shadd Dales and Anthony Varrell kick off the week — starting with Organigram (TSX: OGI / NASDAQ: OGI) and their latest business update. The company released new details on early Sanity platform performance and updated Canadian market‑share positioning, giving a clearer look at how they’re setting up for the next phase of growth.Then in Segment #1, Dr. Dan Karlin, Chief Medical Officer of Definium Therapeutics (NASDAQ: DFTX) joins the show.Dr. Karlin breaks down exactly where Definium stands in its current clinical trial program, why their data is considered among the strongest in the psychedelic space, and how the industry is lining up for potential FDA approvals and commercialization beginning in 2027. We also get his reaction to last week’s headline‑making acquisition involving Eli Lilly (NYSE: LLY) purchasing AtaiBeckley (NASDAQ: ATAI) — a move that signals growing interest from major pharmaceutical players in psychedelic therapeutics.For Segment #2 we bring in Michael Bronstein, President of the American Trade Association for Cannabis and Hemp, to walk through the updated regulatory timeline now that the DEA’s rescheduling hearing has concluded. Administrative Law Judge Derek C. Julius has set August 17 as the deadline for all final briefs. Michael explains what that date actually means, how the process unfolds after August 17, and whether an ALJ Recommended Decision could realistically arrive before the end of August.Like, subscribe and leave your comments!#CannabisIndustry #MSOS #CannabisStocks #CannabisNews #CannabisRescheduling #PsychedelicStocks #FDA #BigPharma #MentalHealth #Trump #ALJHearing #ALJTimeline #PsychedelicMedicine #DEARescheduling Want to see more Cannabis Reform?🎬 • Why Cannabis Companies Are Backing Trump |... 🎬 • The DEA Hearing Is Over. Now What? | TDR C... 🎬 • Are THC Drinks Replacing Alcohol? | TDR Ca... 🎬 • DEA Hearing Ends: What Happens Next? | TDR... Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook: / thedalesreport ✅ Twitter: / thedalesreport ✅ Instagram: / dalesreport ✅ LinkedIn: / the-dales-report Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...
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    1 hr and 5 mins
  • Why Cannabis Companies Are Backing Trump | TDR Cannabis in 5
    Jul 20 2026
    Cannabis companies are putting serious money behind federal reform—and Washington is paying attention.In the latest TDR Cannabis in 5, host Shadd Dales breaks down new federal campaign-finance records showing that major cannabis operators contributed a combined $11.5 million to America First Agriculture Action, a political action committee connected through its treasurer to Donald Trump’s main super PAC.The contributors included Trulieve Cannabis Corp. (NYSE: TRLV | CSE: TRUL | OTCQX: TCNNF), Curaleaf Holdings (TSX: CURA | OTCQX: CURLF) and Verano Holdings (Cboe Canada: VRNO | OTCQX: VRNOF), which each contributed $2.5 million.Vision Management Services, a subsidiary of Green Thumb Industries (CSE: GTII | OTCQX: GTBIF), also contributed $2.5 million. Arboretum Bidco, connected to AYR Wellness (CSE: AYR.A | OTCQX: AYRWF), added $1 million, while Ascend Wellness Holdings (CSE: AAWH.U | OTCQX: AAWH) contributed $500,000.What’s more interesting is the timing, and how the donations connect to the administration’s Schedule III push, and why cannabis companies appear ready to support whichever political infrastructure can finally deliver reform.After years of stalled banking legislation, continued 280E taxation and limited access to traditional capital markets, the industry is taking a more aggressive approach.The message coming from cannabis operators is becoming increasingly clear: stop waiting, engage directly and finish the job on federal reform.#Cannabis #CannabisReform #ScheduleIII #CannabisStocks #CannabisNews #FederalCannabis #280E #CannabisInvesting #Trump #CannabisReschedulingWant to see last week's recap?🎬 • The Political Fight for Cannabis Just Expl... Want to see more Cannabis Reform?🎬 • The DEA Hearing Is Over. Now What? | TDR C... 🎬 • Are THC Drinks Replacing Alcohol? | TDR Ca... 🎬 • DEA Hearing Ends: What Happens Next? | TDR... Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook: / thedalesreport ✅ Twitter: / thedalesreport ✅ Instagram: / dalesreport ✅ LinkedIn: / the-dales-report Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...
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    6 mins
  • The Political Fight for Cannabis Just Exploded | TTB Weekly Recap
    Jul 20 2026
    Washington’s fight over cannabis reform intensified this week as Senate Democrats revived full federal legalization immediately after the DEA’s historic rescheduling hearing concluded.In the latest Trade To Black Weekly Recap presented by FRE, host Shadd Dales breaks down why the timing of the Cannabis Administration and Opportunity Act appears aimed as much at the midterm elections as passing legislation—and how political competition could increase pressure on the Trump administration to finalize Schedule III.The episode also reviews the ALJ hearing record, where the federal government strongly defended rescheduling while several opposition witnesses struggled to challenge the scientific and legal case for moving marijuana to Schedule III.Beyond Washington, the federal hemp industry is approaching a November 12 deadline that could remove most intoxicating hemp products from the legal market. Carriers, payment processors and e-commerce platforms may begin restricting businesses before the law officially changes.In psychedelics, a major acquisition was announced this week. Eli Lilly (NYSE: LLY) agreed to acquire AtaiBeckley (NASDAQ: ATAI) in a deal valued at approximately $2.8 billion. The acquisition also places greater attention on Compass Pathways (NASDAQ: CMPS) and Definium Therapeutics (NASDAQ: DFTX) as major independent psychedelic developers. In cannabis, Curaleaf (TSX: CURA | OTCQX: CURLF) and Cannara Biotech (TSX: LOVE | OTCQX: LOVFF), entered into an agreement, plus a new wellness product from MariMed (CSE: MRMD | OTCQX: MRMD) and a customer-acquisition campaign from Tilray Brands (NASDAQ: TLRY | TSX: TLRY) through BrewDog. Weekly recap is now live. Like, subscribe, and leave your comments!#Cannabis #CannabisReform #ScheduleIII #CannabisNews #Psychedelics #HempIndustry #CannabisStocks #PsychedelicStocks #FederalCannabis #CannabisRescheduling Want to see more Cannabis Reform?🎬 • The DEA Hearing Is Over. Now What? | TDR C... 🎬 • Are THC Drinks Replacing Alcohol? | TDR Ca... 🎬 • DEA Hearing Ends: What Happens Next? | TDR... Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook: / thedalesreport ✅ Twitter: / thedalesreport ✅ Instagram: / dalesreport ✅ LinkedIn: / the-dales-report Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...
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    13 mins
  • The DEA Hearing Is Over. Now What? | TDR Cannabis in 5
    Jul 19 2026
    In the latest TDR Cannabis in Five, host Shadd Dales breaks down what happens now that the DEA’s Administrative Law Judge hearing on cannabis rescheduling has officially wrapped.The testimony is complete, the record is closed, and the next key date is August 17. That is when final briefs are due and the record is formally served. It is not the date Judge Derek C. Julius issues his Recommended Decision, and that distinction matters when trying to understand the real timeline.Shadd walks through each step that follows: the ALJ drafting period, the mandatory 25-day waiting period after the recommendation is served, and the DEA’s publication window before a Final Rule can be issued.The episode also looks back at the hearing record itself. The government stayed focused on the statutory and scientific case for Schedule III, while several opposition witnesses spent time on workplace testing, personal stories and broader policy issues that were outside the central scheduling question.The final portion covers the legal challenges expected after the recommendation, including the difference between the current medical cannabis lawsuit involving treaty authority and any future challenge to broader rescheduling under the Administrative Procedure Act.For now, August 17 is the next public deadline. After that, the timing depends on how long Judge Julius takes to complete his recommendation.#Cannabis #ScheduleIII #DEA #CannabisNews #CannabisStocks #FederalCannabis #CannabisInvesting #280E #MarijuanaNews #TDRCannabisWant to see more Cannabis Reform?🎬 • Are THC Drinks Replacing Alcohol? | TDR Ca... 🎬 • DEA Hearing Ends: What Happens Next? | TDR... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook: / thedalesreport ✅ Twitter: / thedalesreport ✅ Instagram: / dalesreport ✅ LinkedIn: / the-dales-report Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...
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    7 mins
  • Cannabis Just Became a Political Battle | TDR Cannabis in 5
    Jul 18 2026
    Federal cannabis reform is quickly becoming one of the biggest political issues in Washington.In the latest TDR Cannabis in Five, host Shadd Dales breaks down new reporting from Marijuana Moment after Senate Democrats reintroduced legislation that would fully legalize marijuana under federal law—just as the Trump administration continues moving forward with its effort to reschedule cannabis to Schedule III.The episode explains what is included in the Cannabis Administration and Opportunity Act, how it differs from the administration’s current rescheduling approach, and why both parties are now advancing very different visions for federal cannabis reform.Shadd also looks at the political timing behind the legislation, why cannabis has become a bipartisan issue heading into the midterm election cycle, and what these competing proposals could mean for cannabis operators, investors, patients, and the broader industry.Whether reform ultimately comes through Congress, the administrative process, or a combination of both, cannabis policy is now moving on multiple fronts at the same time. This episode breaks down where things stand today and why Washington’s latest moves could shape the next phase of federal cannabis reform.#Cannabis #CannabisLegalization #ScheduleIII #CannabisNews #MarijuanaNews #FederalCannabis #CannabisStocks #CannabisInvesting #Politics #CannabisRescheduling #ALJHearingWant to see more Cannabis Reform?🎬 • Are THC Drinks Replacing Alcohol? | TDR Ca... 🎬 • DEA Hearing Ends: What Happens Next? | TDR... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook: / thedalesreport ✅ Twitter: / thedalesreport ✅ Instagram: / dalesreport ✅ LinkedIn: / the-dales-report Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...
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    7 mins
  • They Don’t Want Cannabis Companies Heard | TDR Cannabis in 5
    Jul 17 2026
    Anti-cannabis groups are making a new legal push to keep marijuana companies out of the courtroom—and the implications could extend well beyond this latest lawsuit.In the latest TDR Cannabis in Five, host Shadd Dales breaks down new reporting from Marijuana Moment after prohibition-focused organizations argued that regulated cannabis companies should not be allowed to intervene in the legal challenge surrounding federal cannabis rescheduling.The episode explains why opponents believe the cannabis industry has no legal standing to defend the proposed rule, what “intervention” means in this case, and why the issue could become an important part of the broader rescheduling process.Shadd also looks at the legal arguments being presented, how administrative law typically treats regulated industries, and why this latest filing comes just as the DEA’s Administrative Law Judge hearing has concluded and attention shifts toward the next phase of federal cannabis reform.The outcome won’t determine whether cannabis is ultimately rescheduled, but it could influence who gets a voice in one of the industry’s most closely watched legal battles. As the court considers the latest filings, this is another development worth following as the federal process continues.#Cannabis #ScheduleIII #CannabisNews #MarijuanaNews #FederalCannabis #CannabisStocks #CannabisInvesting #DEA #CannabisReform #TDRCannabisWant to see more Cannabis Reform?🎬 • Are THC Drinks Replacing Alcohol? | TDR Ca... 🎬 • DEA Hearing Ends: What Happens Next? | TDR... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook: / thedalesreport ✅ Twitter: / thedalesreport ✅ Instagram: / dalesreport ✅ LinkedIn: / the-dales-report Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...
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    6 mins
  • Early Repayments, Hemp Bans & Market Games: The Episode Wall Street Should Watch | TTB by Flowhub
    Jul 16 2026
    In our latest Trade To Black podcast presented by Flowhub, host Anthony Varrell welcomes two heavyweight guests for a deep dive into cannabis lending, short selling, and the future of the hemp industry.First, Adam Stettner, CEO of FundCanna, returns with exclusive market-specific lending data from across the cannabis industry. Adam and Anthony break down what operators are borrowing for, which state markets are showing strength, and what the data signals heading into Q2 cannabis earnings season. Adam also explains the mechanics of an early repayment cycle in cannabis lending — what it means when operators pay down debt ahead of schedule, why it's happening now, and what it reveals about operator health and cash flow in a post-Schedule III environment.Then, famed short seller and activist investor Marc Cohodes joins the show for a wide-ranging conversation on the federal hemp ban taking effect November 12, his continued focus on Glass House Brands (NYSE: GLAS), and how short sellers can distort markets — including the mechanics of naked shorting, spoofing, and manipulation tactics that plague small-cap stocks. Marc and Anthony also preview Glass House's upcoming bell-ringing ceremony at the New York Stock Exchange, a symbolic milestone as the second U.S. plant-touching cannabis operator to uplist to a senior exchange.From cannabis capital markets and lending trends to hemp regulation, short seller tactics, and NYSE uplistings, this episode covers the stories shaping cannabis investing in 2026.#TradeToBlack #Flowhub #Cannabis #CannabisNews #CannabisInvesting #CannabisStocks #CannabisIndustry #FundCanna #AdamStettner #MarcCohodes #GlassHouseBrands #NYSE #GLAS #Hemp #HempBan #ScheduleIII #CannabisLending #ShortSelling #CapitalMarkets #CannabisFinance #MarketUpdate #CannabisPolicy #Investing #SmallCapStocksWant to see more Cannabis Reform?🎬 • Are THC Drinks Replacing Alcohol? | TDR Ca... 🎬 • DEA Hearing Ends: What Happens Next? | TDR... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook: / thedalesreport ✅ Twitter: / thedalesreport ✅ Instagram: / dalesreport ✅ LinkedIn: / the-dales-report Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...
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    1 hr and 11 mins
  • Are THC Drinks Replacing Alcohol? | TDR Cannabis in 5
    Jul 16 2026
    THC-infused beverages are becoming one of the fastest-growing segments of the cannabis industry, and new research suggests they’re doing more than offering consumers another option—they may also be changing drinking habits.In the latest TDR Cannabis in Five, host Shadd Dales breaks down new survey data and research highlighted by Marijuana Moment, showing that many THC beverage consumers report drinking less alcohol, while some say they’ve stopped drinking altogether.The episode also looks at multiple studies examining cannabis beverages through the lens of harm reduction, why researchers believe they may help reduce alcohol consumption, and how these findings connect to testimony presented during the DEA’s Administrative Law Judge hearing on cannabis rescheduling.Shadd also covers the growing debate surrounding the proposed federal restrictions on hemp-derived THC products, how consumers say they would respond if those products disappear from the market, and why this issue extends beyond cannabis policy into broader public health discussions.As the federal rescheduling process continues, conversations around alcohol substitution, harm reduction and cannabis beverages are becoming a larger part of the policy debate. This episode breaks down the latest research, the regulatory backdrop, and where this conversation stands today.#Cannabis #THCBeverages #CannabisNews #MarijuanaNews #HarmReduction #CannabisInvesting #CannabisStocks #ScheduleIII #Alcohol #CannabisIndustry #ALJHearing #CannabisReschedulingWant to see more Cannabis Reform?🎬 • DEA Hearing Ends: What Happens Next? | TDR... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... 🎬 • 280E Tax Fight: IRS Pushes Back on Cannabi... Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook: / thedalesreport ✅ Twitter: / thedalesreport ✅ Instagram: / dalesreport ✅ LinkedIn: / the-dales-report Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...
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    6 mins