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We unpack how a federal shutdown freezes cannabis policy progress, why Michigan’s new 24% tax risks shrinking the legal market, and how a Vireo–Schwazze restructuring signals financial maturity. We close with a live “Ode to California” challenging protectionism and calling for true access and scale.

• federal shutdown halting rescheduling, farm bill momentum and appropriations
• behind the scenes lobbying dynamics during a pause
• Michigan’s 24% wholesale tax and illicit market advantage
• punitive taxes vs consumer safety and access
• regulator influence, misaligned incentives and CAMRA limits
• Vireo acquiring Schwazze debt as a restructuring blueprint
• debt service vs operational profitability and MSO viability
• Mana Beverages exit, AB 8 and blocked hemp beverage scale
• interstate scale, GMP quality and real QA vs state silos
• LeafLink pricing backlash, rollback and customer-first lessons
• conference season, planning cadence and community support
• live reading: “Ode to California” and a vision for legalization with access

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

Your hosts are Ben Larson and AnnaRae Grabstein.

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