The Dales Report | Trade to Black

Massachusetts Governor Maura Healey has weighed in on the November ballot fight over adult-use cannabis, and her answer is simple: "I'd vote no." In this episode of TDR Cannabis in 5, host Shadd Dales breaks down reporting from Marijuana Moment on Healey's interview with WCVB-TV's "On The Record," where she said Massachusetts has to keep recreational marijuana legal and called cannabis an important industry for the state.The ballot initiative would end regulated recreational sales and adult home cultivation, while keeping possession legal and the medical program in place. Voters approved legalization in 2016, and sales began in 2018. Polling has consistently favored keeping the market. A MassINC Polling Group survey found 61% opposed to the rollback and 27% in favor, a University of New Hampshire poll found 71% opposed, and an August survey showed voters against it 55% to 33%.The episode also covers the economics and the coalition forming against repeal. Massachusetts has passed $10 billion in cumulative adult-use purchases, and Cannabis Control Commission Chair Chris Harding warned that eliminating sales could cost thousands of jobs, hundreds of businesses and billions in tax revenue. The Massachusetts State Council of the SEIU is urging a no vote, and a coalition of cannabis businesses, health care professionals and advocates has launched TV ads. The Marijuana Policy Project has cautioned that even a close result could encourage similar repeal efforts, including one that has surfaced in Maine, which is why this vote is being watched well beyond Massachusetts.#TDRCannabisIn5 #MassachusettsCannabis #MauraHealey #CannabisRepeal #CannabisPolicy #CannabisNews #CannabisLegalization #MarijuanaPolicyProject #RecreationalCannabis #WeedNews #Cannabis #WeedWant to see more Cannabis Reform?🎬    • DEA Again Says No Marijuana Overdose Death...  🎬    • Why Hemp Reform Just Got More Complicated ...  🎬    • Massachusetts Voters Don't Want A Cannabis...  🎬    • What the DEA Stay Actually Means | TDR Can...  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:[email protected] 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...

With the December 11 federal hemp deadline approaching, the hemp industry is heading into one of its most uncertain stretches. In our latest Trade to Black podcast, presented by Flowhub, host Shadd Dales and Anthony Varrell welcome back Thomas Winstanley, President of Edibles.com.WWinstanley explains how federal and state rules turn into real consequences for shoppers, including why a hemp-derived THC product can be available in one state and restricted in another, how shipping rules affect online orders, and what adults should check before buying, from dose and cannabinoid type to third-party lab documentation. He also covers what consumers could see change if the federal rules take effect December 11.In segment two, the Check In Poll of the Week, presented by NuggMD, asks how cannabis has affected alcohol consumption. Of 1,005 respondents surveyed September 24-28, 32% say they have completely replaced alcohol with cannabis and 26% say it has greatly decreased their drinking, while only 5% say they drink more, down from 9% in January 2025. Use promo code NuggMD/TDR to see if you qualify and save 20%.In the final segment, Dr. Paul Shields, Chief Medical Officer at Vantage Hemp, returns for the weekly Vantage Standard segment and revisits topics from past episodes as the market waits to see what comes next.#TradeToBlack #HempIndustry #HempTHC #FederalHempBan #Edibles #NuggMD #CannabisPoll #HempNews #CannabisNews #Flowhub #CannabisIndustry #Cannabis #CannabisStocks #Trulieve #MSOSWant to see more Cannabis Reform?🎬    • DEA Again Says No Marijuana Overdose Death...  🎬    • Why Hemp Reform Just Got More Complicated ...  🎬    • Massachusetts Voters Don't Want A Cannabis...  🎬    • What the DEA Stay Actually Means | TDR Can...  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:[email protected] 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...

The DEA has updated its official Drugs of Abuse resource guide for 2026, and one line in the marijuana section is getting attention: "No deaths from overdose of marijuana have been reported." In this episode of TDR Cannabis in 5, host Shadd Dales breaks down the Marijuana Moment report on the new edition. The statement itself isn't new, since the agency has included it in earlier marijuana fact sheets going back years. What makes the 2026 update notable is the timing, in the middle of the broader federal rescheduling process.The updated guide also reflects the April federal action that moved marijuana covered by state medical licenses, along with certain FDA-approved marijuana products, into Schedule III. The previous edition still described marijuana broadly as a Schedule I substance. The new version also says the majority of U.S. states have legalized marijuana for medical purposes and built regulated systems around it over the last three decades, a noticeably different tone from earlier editions.The guide is not a clean bill of health for cannabis. The DEA still warns that marijuana can impair learning, memory, coordination, and driving, that long-term use can lead to physical and psychological dependence, and that emergency room visits involving edibles have increased. The episode puts those risks in context against drugs like fentanyl and other opioids, where overdose deaths remain a major public health crisis.The episode also covers where the broader process stands. Judge Derek Julius paused the proceeding while the DEA responds to a new GAO report, and the core questions on medical use, abuse potential, and public health risk remain open. Treasury and the IRS are also working on 280E guidance.#TDRCannabisIn5 #DEA #MarijuanaRescheduling #ScheduleIII #CannabisPolicy #CannabisNews #MarijuanaMoment #FederalCannabisPolicy #CannabisReform #DrugsOfAbuse #Cannabis #MarijuanaWant to see more Cannabis Reform?🎬    • Why Hemp Reform Just Got More Complicated ...  🎬    • Massachusetts Voters Don't Want A Cannabis...  🎬    • What the DEA Stay Actually Means | TDR Can...  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:[email protected] 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...

Coming up on our latest Trade to Black podcast, presented by Flowhub, hosts Shadd Dales and Anthony Varrell tackle one of the biggest challenges facing the cannabis industry, branding. Jason Harris of Jerome Baker Designs joins the show, one of the few legacy cannabis glass brands that's survived decades in this space. Jason walks through his origins in glassblowing, what made Jerome Baker stand out in the functional glass world, and his philosophy of treating glass as art rather than product. He also opens up about Operation Pipe Dream, the federal enforcement action that upended his career, the contrast of being prosecuted for products now sold openly in legal dispensaries, and what rebuilding the brand taught him about resilience. TIn segment two, Fred Gomes, Director of Institutional Research at ATB Cormark Capital Markets, joins the show for the first time to break down ATB's latest Cannabis Investor Sentiment Survey. Conducted September 21-29, just before the ALJ's stay order, the survey found investors had assigned a 65% probability to full rescheduling within six months and a 67% probability to broader US exchange uplistings, the first time uplistings crossed the 50% mark in survey history. Fred also unpacks why the federal hemp ban may be underappreciated as a catalyst, why M&A has jumped sharply as a capital allocation priority, and why Green Thumb (TCQX: GTBIF) and Trulieve (NYSE: TRLV) remain the consensus long picks in the US, with Village Farms (NASDAQ: VFF) and Cronos (NASDAQ: CRON) leading in Canada.#TradeToBlack #JeromeBakerDesigns #CannabisBranding #ATBCormark #CannabisInvesting #MSOS #CannabisRescheduling #CannabisStocks #CannabisNews #CannabisIndustry #Cannabis #Marijuana #WeedWant to see more Cannabis Reform?🎬    • Why Hemp Reform Just Got More Complicated ...  🎬    • Massachusetts Voters Don't Want A Cannabis...  🎬    • What the DEA Stay Actually Means | TDR Can...  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:[email protected] 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...

In our latest Trade to Black podcast, presented by FRE, hosts Shadd Dales and Anthony Varrell kick things off with the latest on Curaleaf's (TSX: CURA) hostile bid to acquire Aurora Cannabis (NASDAQ: ACB). Curaleaf has sweetened its offer to approximately $5 per Aurora share, made up of 0.4013 Curaleaf shares plus $1 in cash based on its October 2nd closing price, up from its original summer offer of $4 per share. Curaleaf says the increase signals good-faith negotiation after Aurora's board rejected its earlier approach and urged shareholders to do the same.In segment two, Will Muecke, Co-Founder and Managing Member of Artemis Partners, joins to break down the Global Cannabis Regulatory Summit's newly published 2026 white paper collection, the formal record of a London gathering spanning nearly 30 countries and 20 regulatory jurisdictions. The paper argues the legalization debate is essentially over where it matters, and the real fight now is implementation, building shared technical standards, market responsibility frameworks, and cross-border regulatory alignment. It digs into a sobering standards survey where more than 90% of responses rated current global standards yellow or red, the economics of over-drying flower, the rescheduling chapter's seven-point MSO playbook, and why Europe's pharmacy-channel markets may be better positioned for international trade than most U.S. state programs.In our final segment, Michael Bronstein, President of the American Trade Association for Cannabis and Hemp, returns for his weekly Insiders Edge segment to break down the latest out of Washington on the rescheduling stay, including his read on whether ALJ Derek Julius will ultimately admit the GAO report into the hearing record. DEA has until Tuesday, October 13th to file its response, up to 20 pages, on whether that report should be added.Like, subscribe, and leave your comments!#TradeToBlack #Curaleaf #AuroraCannabis #CannabisMA #GlobalCannabisSummit #CannabisRescheduling #ScheduleIII #MichaelBronstein #CannabisPolicy #CannabisNews #CannabisStocks #Weed #CannabisWant to see last week's recap?🎬    • Rescheduling Pauses, 280E Moves Forward | ...  Want to see more Cannabis Reform?🎬    • Why Hemp Reform Just Got More Complicated ...  🎬    • Massachusetts Voters Don't Want A Cannabis...  🎬    • What the DEA Stay Actually Means | TDR Can...  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:[email protected] 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...

A group of Republican senators is asking the Department of Justice to investigate the growing role of Chinese transnational criminal organizations in America's cannabis and intoxicating-hemp markets. In this episode of TDR Cannabis in 5, host Shadd Dales breaks down reporting from Marijuana Moment on a letter sent by Senators Tom Cotton, Susan Collins, Pete Ricketts, and Ted Budd to Attorney General Todd Blanche, requesting a DOJ investigation into how these networks are financed, how they're acquiring U.S. land, what chemicals are being imported, and whether any ties exist to the Chinese Communist Party.The letter leans heavily on DEA's 2025 National Drug Threat Assessment, which found Chinese transnational criminal organizations now dominate illegal marijuana cultivation and distribution across the U.S., often operating grow sites inside states with legal cannabis markets. These operations reportedly produce marijuana averaging 25-30% THC, use banned pesticides and fertilizers shipped from China, and rely heavily on undocumented workers recruited under false promises of legal employment. The senators cite recent cases, including 7 Chinese nationals charged last year and 29 more charged in April in a nationwide black-market operation centered in Oklahoma, plus ongoing issues in Siskiyou County, California involving trafficking and toxic pesticides.The episode connects this directly to the ongoing hemp debate, the senators argue loopholes created by the 2018 Farm Bill let intoxicating hemp expand with minimal oversight, giving these networks more room to operate, right as Washington weighs the federal hemp THC restrictions now delayed until December 11th. The takeaway: federal cannabis policy is increasingly colliding with national security and organized crime concerns, adding a new and complicated layer to an already contentious hemp fight in Washington.#TDRCannabisIn5 #ChineseCrimeNetworks #CannabisPolicy #HempTHC #TomCotton #DEA #CannabisNews #NationalSecurity #IllegalGrowOps #CannabisReform #Cannabis #Hemp #HempIndustryWant to see last week's recap?🎬    • Rescheduling Pauses, 280E Moves Forward | ...  Want to see more Cannabis Reform?🎬    • Massachusetts Voters Don't Want A Cannabis...  🎬    • What the DEA Stay Actually Means | TDR Can...  🎬    • PA Senator Proposes Regulated Hemp Market ...  🎬    • Cannabis Rescheduling's Next Step: Making ...  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:[email protected] 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...

In our latest Trade to Black Weekly Recap, presented by FRE, host Shadd Dales breaks down a wild seven days in cannabis, starting with DEA Chief Administrative Law Judge Derek Julius pausing the marijuana rescheduling proceeding on Tuesday after three opponents asked him to add a new GAO report into the hearing record. DEA has until October 13th to respond. The episode makes clear this is a procedural pause, not a shift on the merits, DEA's own final brief already argued marijuana no longer meets Schedule I requirements, and DEA has aligned with HHS recommendations in all 84 completed scheduling cases GAO reviewed from 2020 through 2025.Friday brought another major update, Treasury and the IRS officially added Section 280E guidance to their new 2026-2027 Priority Guidance Plan. There's no deadline attached, but it confirms real resources are now going toward resolving the messy tax questions created by medical marijuana sitting in Schedule III while adult-use remains in Schedule I.The episode also covers new Massachusetts polling showing substantial opposition to the Question 8 repeal effort backed by SAM, a jaw-dropping Michigan regulatory case where GP Holdings had its 20 grow licenses revoked and was hit with a $2 million fine after packages labeled as flower were found to contain dirt, mulch, and plant waste instead of actual cannabis, and a run of business news including Trulieve's (NYSE: TRLV) expanded Connected Cannabis licensing deal, Canopy Growth's (NASDAQ: CGC) (TSX: WEED) new Germany country manager, Ayr Wellness's latest asset transfer, Vireo Growth's (CSE: VREO) Ohio-related transaction, and Compass Pathways' (NASDAQ: CMPS) new Chief People Officer ahead of a possible COMP360 commercial launch.#TradeToBlack #CannabisRescheduling #ScheduleIII #Section280E #DerekJulius #MichiganCannabis #Trulieve #MassachusettsCannabis #CannabisNews #CannabisIndustry #CannabisStocks #Marijuana #WeedWant to see more Cannabis Reform?🎬    • Massachusetts Voters Don't Want A Cannabis...  🎬    • What the DEA Stay Actually Means | TDR Can...  🎬    • PA Senator Proposes Regulated Hemp Market ...  🎬    • Cannabis Rescheduling's Next Step: Making ...  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:[email protected] 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...

The IRS just put a price tag on uncertainty, Section 280E guidance is officially a federal priority, but don't expect clarity overnight. In this episode of TDR Cannabis in 5, presented by FRE, host Shadd Dales breaks down Treasury's new 2026-2027 Priority Guidance Plan, which officially lists guidance under Section 280E as a project the IRS and Treasury intend to focus resources on.The timing matters here. This guidance year now lines up with the federal fiscal year, meaning the plan actually started October 1, 2026, and runs through September 30, 2027, and Treasury specifically says there's no deadline attached to completing these projects. So this isn't an announcement that guidance is coming by a specific date, it confirms 280E is now formally on the work list and that work has already begun.The complexity here is real. With medical marijuana now in Schedule III while adult-use remains Schedule I, operators running both sides of the business face genuine questions on how to allocate payroll, rent, overhead, and shared facilities between activities still subject to 280E and those that aren't. Treasury has indicated forthcoming guidance will address exactly that, plus a possible transition rule treating the scheduling change as applying for the entirety of the taxable year containing the effective date. The episode also looks ahead to what happens if ALJ Derek Julius's broader rescheduling recommendation eventually moves adult-use out of Schedule I too, at which point this IRS guidance becomes even more consequential.#CannabisRescheduling #FRE #Section280E #Cannabis #IRSGuidance #TreasuryDepartment #CannabisPolicy #CannabisNews #ScheduleIII #CannabisIndustry #ALJ #Weed Want to see more Cannabis Reform?🎬    • Massachusetts Voters Don't Want A Cannabis...  🎬    • What the DEA Stay Actually Means | TDR Can...  🎬    • PA Senator Proposes Regulated Hemp Market ...  🎬    • Cannabis Rescheduling's Next Step: Making ...  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:[email protected] 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...

A major effort to roll back marijuana legalization in Massachusetts is running into a pretty significant problem: voters don't appear to want it. In this episode of TDR Cannabis in 5, host Shadd Dales breaks down reporting from Marijuana Moment on a new poll from MassINC Polling Group for CommonWealth Beacon, showing 61% of likely voters plan to vote NO on Question 8, the ballot measure that would roll back the state's recreational cannabis market. Only 27% support the repeal, with 11% undecided.Question 8 wouldn't fully recriminalize cannabis, adults 21+ could still possess up to an ounce, and the medical program stays intact, but it would eliminate regulated recreational sales and home cultivation, making Massachusetts the first state ever to dismantle an established adult-use market if it passes. That's a significant ask considering voters approved legalization back in 2016 with nearly 54%, and the state has since surpassed $10 billion in recreational cannabis sales.This isn't an isolated result either, a University of New Hampshire poll found 71% opposed, and another earlier survey found 55% opposed to 33% in favor. The repeal campaign is led by the Coalition for a Healthy Massachusetts and backed nationally by Smart Approaches to Marijuana, which is running a similar effort in Maine. With multiple independent polls all pointing the same direction, the episode makes the case that this result, win or lose, will be watched well beyond Massachusetts, since reversing legalization after voters have lived with it for nearly a decade looks like a genuinely hard sell.#TDRCannabisIn5 #MassachusettsCannabis #Question8 #CannabisRepeal #CannabisPolicy #SmartApproachesToMarijuana #CannabisNews #RecreationalCannabis #CannabisLegalization #Cannabis #WeedWant to see more Cannabis Reform?🎬    • What the DEA Stay Actually Means | TDR Can...  🎬    • PA Senator Proposes Regulated Hemp Market ...  🎬    • Cannabis Rescheduling's Next Step: Making ...  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:[email protected] 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...

In our latest Trade to Black podcast, presented by Flowhub, hosts Shadd Dales and Anthony Varrell kick off a busy episode with Raj Grover, Founder and CEO of High Tide (NASDAQ: HITI) (TSXV: HITI), breaking down the company's record-breaking third fiscal quarter of 2026. High Tide posted record revenue of $198.8 million, up 33% year-over-year, record gross profit of $52.7 million, record Adjusted EBITDA of $16.2 million, record net income of $12.7 million, and $7.0 million in free cash flow, putting the company on an annualized revenue run rate of approximately $800 million. Canna Cabana now holds a 14% retail market share in the provinces where it operates excluding British Columbia, up from 13% a year ago, while Remexian distributed a record 10.2 tonnes of medical cannabis in Germany during the quarter.Grover also gives his take on High Tide's U.S. strategy, the company has said it's actively assessing whether broader federal rescheduling could create a pathway for exchange-listed companies like itself to participate directly in the U.S. state-legal adult-use market while maintaining its NASDAQ and TSXV listings. In segment two, the Vantage Standard segment presented by Vantage continues with Dr. Paul Shields, Chief Medical Officer at Vantage Hemp. We outline real clinical and compliance questions behind Schedule III, the difference between certifying and prescribing, the looming six-month DEA registration window, who actually screens patients for drug interactions at the dispensary counter, and why rescheduling doesn't automatically mean insurance coverage. Florida's medical-only program, now entirely under Schedule III, serves as a live case study.In segment three, Adam Stettner, CEO of FundCanna, returns for his weekly appearance to unpack the fallout from this week's DEA news, where ALJ Derek Julius paused his recommendation, not the underlying hearing itself. Adam shares what he's hearing from operators, banks, lawyers, and accountants since the news broke, plus his own general counsel's read that opponents are using this as a delay tactic.#Cannabis #DonaldTrump #Stocks #Weed #StockTrading #Finance #ScheduleIII #CannabisIndustry #CannabisNews #Investing #Drugs #HighTideWant to see more Cannabis Reform?🎬    • What the DEA Stay Actually Means | TDR Can...  🎬    • PA Senator Proposes Regulated Hemp Market ...  🎬    • Cannabis Rescheduling's Next Step: Making ...  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:[email protected] 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...