Was last week’s market pullback just nerves—or was it the market trying to reset after years of uncertainty?On this episode of TDR Trade to Black, we kick off 2026 by stepping back and looking at what actually matters next for the cannabis industry. Shadd Dales is joined by Peter Sack of Chicago Atlantic (NASDAQ: REFI | NASDAQ: LIEN), one of the most active lenders in cannabis, to talk through how sentiment is shifting now that federal rescheduling is officially in motion.We discuss President Trump’s cannabis rescheduling executive order, why it matters from a capital and lending perspective, and why this moment feels different from the false starts investors have seen in the past. Peter shares how operators and lenders are reacting behind the scenes, where conversations are picking up, and why more people are starting to lean back into the space after sitting on the sidelines.The conversation also covers what 2026 could bring when it comes to mergers and acquisitions, balance-sheet cleanups, and consolidation across U.S. cannabis. We get into 280E, uplisting expectations, private credit versus traditional banking, and why SAFE Banking alone won’t suddenly fix everything.From Texas and Florida to Pennsylvania, Virginia, Canada, and Europe, this episode connects policy changes with real-world execution—giving investors a clearer picture of how the next phase of this industry may take shape.#CannabisInvesting #CannabisStocks #TDRTradeToBlack #ChicagoAtlantic #REFI #LIEN #CannabisFinance #CannabisMergers #CannabisRescheduling #CannabisMarketsWant to see more Cannabis Reform videos?   • Why Cannabis Is Headed for a Market Re-Rat...     • Trump Sets January Deadline for Cannabis R...     • What Really Happened Thursday in Cannabis ...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

What were the real turning points in cannabis this year — the ones that actually changed the trajectory, not just the timeline?TDR Trade to Black, presented by Dutchie, runs it back with a holiday-season special: the Top 10 Moments of 2025 in cannabis — with Shadd Dales and co-host Anthony Varrell, plus friend of the show Guap jumping in with commentary along the way.The countdown starts with the stories that defined the risk side of the sector — including the Ayr Wellness collapse and what it said about leverage, cash flow, and survivability in a “no freebies” capital market. From there, the conversation moves into new political tailwinds — like Virginia’s shift toward adult-use momentum heading into 2026, and why the state is becoming a battleground market for MSOs.The list also hits big structural themes that kept showing up all year: debt cleanup and balance sheet discipline (with Trulieve’s moves getting a spotlight), the ongoing cannabis vs. alcohol trend, and the expanding map of new state markets coming online.Then comes the part everyone argued about in real time: the Texas hemp crackdown, the broader push to rein in intoxicating hemp, and why those fights mattered for “real” reform.And yes — the episode saves the obvious one for last: President Trump’s executive order that kicked off the path toward federal cannabis rescheduling, and why 2026 is shaping up to be the year where policy finally turns into mechanics.Viewers are invited to weigh in: agree, disagree, or add the moment they think belongs on the list.#TDRTradeToBlack #Dutchie #CannabisRescheduling #CannabisStocks #MSOS #CannabisPolicy #USCannabis #CanadianCannabis #HempPolicy #CannabisNewsWant to see more Cannabis Reform videos?   • Why Cannabis Is Headed for a Market Re-Rat...     • Trump Sets January Deadline for Cannabis R...     • What Really Happened Thursday in Cannabis ...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

On this episode of TDR Cannabis in Five, the focus shifts away from policy headlines and stock moves and into something far more foundational — how cannabis is grown. As the industry matures and competition tightens, cultivation quality is becoming one of the biggest differentiators in the market.Premium cannabis tends to hold pricing power longer, maintain stronger retailer relationships, and deliver more consistent margins. And that advantage starts long before products hit store shelves — it begins in the grow room. This episode takes a closer look at cultivation practices and uses Advanced Nutrients as a case study to explain how premium cannabis is produced behind the scenes.Advanced Nutrients has focused exclusively on cannabis cultivation since 1999, developing system-based nutrient solutions used by growers in more than 120 countries. Their approach emphasizes consistency, nutrient balance, and repeatable results — all critical factors as operators scale and investors scrutinize operations more closely.As rescheduling and consolidation move forward, growers and companies are being evaluated on execution, not hype. Facilities that can deliver predictable yields and reliable quality stand out, while inconsistent operations face rising pressure.This episode breaks down why cultivation inputs matter more than ever — and why understanding what happens inside the grow room is becoming just as important as tracking federal cannabis policy.#CannabisCultivation #PremiumCannabis #CannabisRescheduling #GrowRoom #CannabisIndustry #TDRCannabisInFive #CannabisProduction #WeedBusiness #CannabisConsolidation #CultivationTechWant to see more Cannabis Reform videos?   • Why Cannabis Is Headed for a Market Re-Rat...     • Trump Sets January Deadline for Cannabis R...     • What Really Happened Thursday in Cannabis ...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

The TDR team shares a special holiday message to close out the year, celebrating the cannabis industry and the people helping move it forward. In this festive video, Shadd Dales sends warm holiday wishes alongside GUAP (GUAPNV), reflecting on a year defined by resilience, leadership, and continued evolution across the cannabis sector.The video also features familiar industry voices, including Margaret Brodie of Rubicon Organics (TSX: ROMJ), Raj Grover of High Tide (NASDAQ: HITI | TSX: HITI), and Anthony Coniglio of NewLake Capital Partners (OTCQX: NLCP). Additional appearances include Ryan Crandall, JON Levine, and Howard Schacter of MariMed (OTCQX: MRMD), representing a broad cross-section of operators, executives, and capital providers.As the holiday season arrives, this message offers gratitude to the cannabis community and looks ahead to continued growth and opportunity in the year to come.#CannabisIndustry #TradeToBlack #ShaddDales #GUAPNV #CannabisLeadership #CannabisCEOs #CannabisInvesting #TDR #HolidayMessage #CannabisCommunityWant to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

So here’s the question investors should really be asking right now:What happens to cannabis when it stops being treated like an outlier — and starts being viewed like a real, regulated industry?On this episode of TDR Cannabis in Five, the focus shifts beyond daily headlines and short-term price moves to the bigger picture taking shape across the cannabis sector. With federal rescheduling nearing completion, the industry may be entering the early stages of a full market re-rating — one driven by policy normalization, financial access, and institutional re-engagement.For years, cannabis has been boxed into a corner by outdated federal classifications, limited banking access, and restricted capital markets. That framework has kept valuations compressed and institutional participation on the sidelines. Rescheduling doesn’t solve everything, but it fundamentally changes how cannabis is categorized by lawmakers, regulators, and investors.Once cannabis moves out of Schedule I, pressure builds quickly for banking reform. And if access to traditional financial services improves, the next major unlock becomes possible: senior exchange uplistings. That shift alone could force broader analyst coverage, deeper liquidity, and real price discovery.This episode breaks down why rescheduling is just the first domino — and how banking reform, uplisting, and institutional coverage could reshape how cannabis companies are valued, financed, and understood over the next 12 to 24 months.Not hype. Not speculation. Just how capital markets work when rules finally catch up with reality.#CannabisRescheduling #CannabisStocks #MarketReRating #CannabisInvesting #ScheduleIII #TDRCannabisInFive #WeedStocks #CannabisPolicy #InstitutionalCapital #CapitalMarketsWant to see more Cannabis Reform videos?   • Trump Sets January Deadline for Cannabis R...     • What Really Happened Thursday in Cannabis ...     • Cannabis Enters a New Federal Era | TDR Ca...     • Trump’s Cannabis Order: Why the Language M...     • How Money Actually Moves Post-Rescheduling...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

So here’s the big question:Is federal cannabis rescheduling about to move from speculation to execution — and could January quietly set the tone for how 2026 begins for the entire sector?According to reporting from The Marijuana Herald, President Donald Trump has formally directed Attorney General Pam Bondi to finalize the federal rescheduling of cannabis by the end of January. The directive instructs the Department of Justice to complete the rulemaking process to move marijuana from Schedule I to Schedule III under the Controlled Substances Act, as quickly as federal law allows.This isn’t legalization — but it is meaningful. Schedule III status would formally recognize cannabis as having accepted medical use under federal law, pulling it out of the most restrictive category it’s occupied for decades.Timing matters. Cannabis stocks have spent years under pressure due to federal uncertainty, punitive tax treatment, and limited institutional participation. A clear federal directive with an actual deadline attached changes how risk is evaluated.Rescheduling could eliminate IRS Section 280E, improving cash flow and margins for operators. It also opens the door to expanded medical research and greater regulatory clarity — two things institutions care deeply about.This doesn’t solve everything overnight. Interstate commerce, banking reform, and criminal justice reform still require further action. But it does shift the conversation.Instead of asking if federal cannabis policy will move, markets start asking how fast — and who positions early.With January now firmly in focus, sentiment may be watching the calendar just as closely as the charts.#CannabisRescheduling #ScheduleIII #CannabisStocks #FederalCannabis #CannabisPolicy #TDRCannabisInFive #WeedStocks #280E #CannabisInvesting #MarketSentimentWant to see more Cannabis Reform videos?   • What Really Happened Thursday in Cannabis ...     • Cannabis Enters a New Federal Era | TDR Ca...     • Trump’s Cannabis Order: Why the Language M...     • How Money Actually Moves Post-Rescheduling...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

In this episode of TDR Trade To Black, hosts Shadd Dales and Anthony Varrell sit down with Rubicon Organics Inc. (TSX: ROMJ, OTCQX: ROMJF) CEO Margaret Brodie to look back on a year that forced real operators to separate themselves from the pack — and to talk through what 2026 could actually look like from here.The conversation starts with a candid recap of 2025, a year where Canadian cannabis shifted away from hype and survival mode and toward execution. Brodie explains how tighter capital markets, changing consumer behavior, and increased competition pushed companies to focus on what really matters: product quality, operational discipline, and brand trust.From there, the discussion moves into what’s ahead. Topics include evolving product trends like pre-rolls and all-in-one vapes, why premium flower still plays a critical role in building long-term brands, and how different provinces are behaving very differently when it comes to price sensitivity and premium adoption.The episode also touches on international opportunity, the growing relevance of Europe, and how recent U.S. cannabis policy developments are bringing renewed global attention to the sector — even for Canadian operators.Rather than big promises or speculation, this conversation stays grounded in real-world execution. It’s about how companies that stayed focused, stayed disciplined, and stayed close to the consumer are positioning themselves for the next phase of the cannabis industry heading into 2026.#CanadianCannabis #RubiconOrganics #CannabisInvesting #CannabisStocks #TSXStocks #CannabisCEO #TradeToBlack #PremiumCannabis #CannabisIndustry #Cannabis2026Want to see last week's recap?   • Trump’s Executive Order Changes the Cannab...  Want to see more Cannabis Reform videos?   • What Really Happened Thursday in Cannabis ...     • Cannabis Enters a New Federal Era | TDR Ca...     • Trump’s Cannabis Order: Why the Language M...     • How Money Actually Moves Post-Rescheduling...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

What happens when major cannabis M&A collides with the biggest federal policy shift in decades?That’s the focus today on TDR Trade To Black, presented by Dutchie, going live today at 4 PM Eastern with hosts Shadd Dales and Anthony Varrell.In Segment One, we catch up with Luc Mongeau, CEO of Canopy Growth (NASDAQ: CGC, TSX: WEED), to break down the company’s recently announced acquisition of MTL Cannabis. We'll ask why Canopy moved now, what MTL adds strategically, and how consolidation in Canada is accelerating as balance sheets strengthen and weaker operators exit.In Segment Two, Noah Hamman from AdvisorShares joins the conversation to unpack what actually happened in markets after President Donald Trump’s executive order directing cannabis rescheduling. From the sharp pre-announcement selloff to the structural mechanics behind MSOS trading, this segment digs into flows, positioning, and what institutional investors are really watching next.This episode isn’t about hype — it’s about context. How policy shifts ripple through capital markets, why volatility showed up when it did, and what needs to happen for momentum to turn into something more durable.If you’re following cannabis from an investor, operator, or macro perspective, this is one you don’t want to miss.#CannabisStocks #CanopyGrowth #MSOS #CannabisRescheduling #CannabisInvesting #CannabisMAndA #TradeToBlack #Dutchie #WeedStocks #CannabisNewsWant to see last week's recap?https://youtu.be/przwMtjBUwcWant to see more Cannabis Reform videos?https://youtu.be/hMEayA3bEl0https://youtu.be/OfAcOAnGImEhttps://youtu.be/ZH46tOq3nIchttps://youtu.be/MxCrSG9gDiMWant to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web:Facebook: https://www.facebook.com/TheDalesReportTwitter: https://twitter.com/TheDalesReportInstagram: https://www.instagram.com/dalesreportLinkedIn: https://www.linkedin.com/company/the-...Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

After Thursday’s chaos, is the cannabis sector finally resetting — or just catching its breath?In the latest TDR Cannabis in 5, presented by Dutchie, the focus turns to one of the most dramatic and misunderstood trading weeks the cannabis sector has seen in years — and what it actually means going forward.Thursday’s selloff wasn’t a normal pullback. It wasn’t profit-taking. It was a sudden, coordinated structural flush that hit the entire U.S. cannabis complex at the same minute, just ahead of President Trump’s historic rescheduling announcement. Different stocks, different exchanges — same exact timing.That kind of move doesn’t happen by accident.This episode breaks down what really happened under the hood, why the drawdown created a meaningful mispricing, and why the sector is now entering a more balanced — but fragile — setup.There’s no sugarcoating it: retail investors are exhausted, trust has been damaged, and patience is thin after years of false starts. At the same time, cannabis rescheduling is now global news, drawing attention far beyond the usual industry circles.The key question now isn’t whether cannabis policy has changed — it has. The real question is whether new buyers step in to replace the retail capital that’s been carrying this sector for years.#CannabisStocks #CannabisRescheduling #TDRCannabisIn5 #MSOS #CannabisInvesting #USCannabis #MarketStructure #CannabisPolicy #Dutchie #StockMarketWant to see last week's recap?   • Trump’s Executive Order Changes the Cannab...  Want to see more Cannabis Reform videos?   • Cannabis Enters a New Federal Era | TDR Ca...     • Trump’s Cannabis Order: Why the Language M...     • How Money Actually Moves Post-Rescheduling...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

Was this the week cannabis policy officially turned a corner?In this week’s TDR Trade To Black Weekly Recap, presented by Dutchie, the focus shifts to what actually moved the cannabis industry — confirmed federal action, court decisions, earnings, and where capital is quietly positioning.Federal cannabis rescheduling is now official after President Donald Trump signed an executive order directing agencies to complete the move from Schedule I to Schedule III under the Controlled Substances Act. This is not federal legalization, but it removes the 280E tax penalty, expands legitimate medical research, and signals a clear shift in how Washington views cannabis as an industry.At the same time, the U.S. Supreme Court declined to hear Canna Provisions v. Bondi, leaving federal prohibition intact and keeping pressure squarely on Congress and the executive branch — not the courts.On the business side, Canadian operators delivered standout earnings and strategic M&A. Organigram Global Inc. (NASDAQ: OGI, TSX: OGI) posted record Fiscal 2025 results, reinforcing its position as Canada’s top recreational cannabis company by market share. U.S. operators continued refinancing, divesting non-core assets, and consolidating ahead of what could be a very different regulatory environment.This weekly recap breaks down:

• Why Schedule III matters beyond the headline
• What the Supreme Court decision really means
• How capital is flowing — and where it isn’t
• Why balance-sheet discipline continues to separate winners

For investors, operators, and policy watchers, this week delivered clarity — and direction.#CannabisRescheduling #CannabisStocks #TrumpAdministration #CannabisPolicy #280E #SAFEbanking #CannabisInvesting #USCannabis #CanadianCannabis #PresidentTrumpWant to see more Cannabis Reform videos?   • Cannabis Enters a New Federal Era | TDR Ca...     • Trump’s Cannabis Order: Why the Language M...     • How Money Actually Moves Post-Rescheduling...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: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, please get in touch with us at:[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 as 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 you make based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...