Cannabis industry experts discuss the stark contrast between Texas's recent ban on hemp-derived THC products and New York's efforts to strengthen its regulatory framework through a new track and trace program. Mark Hauser shares insights on market maturity, regulatory challenges, and the uncertain future facing both hemp and cannabis businesses.

• Texas just passed SB3, banning hemp THC products despite an estimated $8 billion marketplace
• Lieutenant Governor leveraged teacher wages and school funding to push prohibition against public opinion
• Texas Compassionate Use Program remains woefully inadequate with only about 8,000 patients served statewide
• New York implementing track and trace starting in August to address product diversion concerns
• Industry faces fundamental challenge of parallel regulatory structures for "hemp" and "non-hemp" cannabis
• Successful operators focus on tight margins, compliance excellence, and clear market positioning
• Mark predicts more debt restructuring for cannabis companies and a potential Farm Bill passage
• The cannabis industry may evolve into an "hourglass shape" with large players at top, craft producers at bottom
• Regulatory chaos at state level may be necessary to eventually drive rational federal policy
• Yiddish wisdom: "Trying to understand the cannabis industry logically is like trying to pick up a dead body with cups"

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.