Pelorus Capital Group is making a billion-dollar bet on cannabis. After years of building a reputation as one of the most disciplined lenders in cannabis real estate, with more than half a billion deployed since 2016, the firm is now launching a $1 billion equity growth fund. The move marks a significant shift from debt into ownership, and the timing could reveal how Pelorus sees the next phase of this maturing industry.TDR Trade to Black, powered by Dutchie, sits down with Rob Sechrist, President of Pelorus Capital Group, to unpack the details. Why now? The fund is positioned to take advantage of debt maturities coming due in 2026, consolidation among underperforming operators, and consumer trends that mirror early-stage alcohol markets. The conversation also covers how the Pelorus Data Project — tracking over 21,000 businesses, 31,000 licenses, and 133 million square feet of cultivation — gives the firm an edge in identifying winners and avoiding companies that won’t make it through the next two years.With a seasoned advisory team of MSO founders, private equity veterans, and institutional investors, Pelorus is aiming to match capital deployment with operational execution. For investors, the core question remains: does the upside justify the added equity risk compared to traditional lending?This is more than a capital raise — it’s a roadmap for how serious institutional players are positioning for cannabis’ next chapter.#CannabisInvesting #TradeToBlack #PelorusCapital #CannabisFinance #CannabisStocks #CannabisIndustry #CannabisEquity #CannabisGrowth #CannabisPrivateEquity #CannabisBrandsWant to see last week's recap?   • Cannabis Industry Fights for Billions in R...  Want to see more Cannabis Reform videos?   • Congress Exposes Chinese Cannabis Cartel N...     • Trump’s Drug Czar Pick: Cannabis a Biparti...     • Congress Reacts to Trump’s Cannabis Commen...     • Congress Takes Aim at China’s Cannabis Net...  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...

Canadian cannabis operators that remain in the market continue to show resilience, even while excise tax obligations weigh heavily on the sector. Talks in Ottawa between the Liberal government and former Bank of England governor Mark Carney have raised questions about whether meaningful reform could finally be on the table. Meanwhile, in the U.S., Minnesota is navigating lawsuits tied to its adult-use rollout, and Virginia’s upcoming gubernatorial election could set the stage for legalization if Rep. Abigail Spanberger wins in November.On this episode of the Trade To Black podcast, presented by Dutchie and hosted by Shadd Dales and Anthony Varrell, Rubicon Organics (TSX: ROMJ | OTCQX: ROMJF) CEO Margaret Brodie shares the latest on the company and her perspective on the broader Canadian cannabis landscape. She discusses how companies that have survived industry consolidation are positioned today, and why potential tax reform matters for long-term competitiveness.The conversation then shifts south of the border with Michael Bronstein, president of the American Trade Association for Cannabis and Hemp. Bronstein unpacks the legal disputes in Minnesota that are complicating the state’s adult-use rollout, while also looking at Virginia, where the November election could be a tipping point. Spanberger has already signaled that passing adult-use cannabis legislation would be a priority if elected, making this race one of the most consequential for cannabis policy in the U.S. this year.#CannabisNews #TradeToBlack #RubiconOrganics #MargaretBrodie #MichaelBronstein #MinnesotaCannabis #VirginiaCannabis #CanadianCannabis #CannabisInvesting #DutchieWant to see last week's recap?   • Cannabis Industry Fights for Billions in R...  Want to see more Cannabis Reform videos?   • Congress Exposes Chinese Cannabis Cartel N...     • Trump’s Drug Czar Pick: Cannabis a Biparti...     • Congress Reacts to Trump’s Cannabis Commen...     • Congress Takes Aim at China’s Cannabis Net...  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...

Verano Holdings (CBOE: VRNO) reported $202 million in revenue, 56% gross margins, and 33% EBITDA margins in its August 2025 earnings release. Strong numbers on paper, but how were they actually achieved? In this exclusive sit-down, Trade To Black host Shadd Dales, alongside co-host Anthony Varrell, speaks with Verano Chief Operating Officer Trip McDermott to break down the operational story behind those results. From cultivation efficiency to retail execution and product mix, this interview goes beyond the headline numbers to uncover what really drives Verano’s performance.In this episode of Trade To Black presented by Dutchie, presented by Shadd Dales and Anthony Varrell, Trip McDermott offers a rare inside look at Verano’s entire platform. That includes cultivation and processing, wholesale discipline, and retail execution across more than 150 stores under the Zen Leaf and MÜV banners. We cover state-by-state operations, including Florida promotions, Illinois category shifts, New Jersey’s premium product growth, and Pennsylvania’s price compression. Trip explains the levers that drove Verano’s margin profile, how sustainability plays into 2025, and the operational playbook guiding one of the industry’s largest multi-state operators.This conversation is a deep operational review of how Verano balances revenue, margins, promotions, and product categories across multiple states — offering insights into the mechanics that support financial durability in today’s competitive cannabis market.#Verano #CannabisStocks #TradeToBlack #CannabisEarnings #USCannabis #ShaddDales #AnthonyVarrell #MSOs #CannabisInvesting #VeranoHoldingsWant to see last week's recap?   • Cannabis Industry Fights for Billions in R...  Want to see more Cannabis Reform videos?   • Congress Exposes Chinese Cannabis Cartel N...     • Trump’s Drug Czar Pick: Cannabis a Biparti...     • Congress Reacts to Trump’s Cannabis Commen...     • Congress Takes Aim at China’s Cannabis Net...  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...

Major shifts are shaking up the cannabis industry, and this week’s TDR countdown presented by Dutchie covers the stories every investor, operator, and policy-watcher needs to know. At #10, Texas finds itself in legal limbo as the Supreme Court declines to rule on local marijuana decriminalization, leaving cities like Austin and San Marcos vulnerable to sudden changes. At #9, the National Cannabis Industry Association is calling for retroactive Section 280E tax relief—a move that could return billions to struggling operators and supercharge small business growth if Congress acts.Coming in at #8, Minnesota’s adult-use market enters a new era as non-tribal dispensaries open for the first time, signaling true market scalability and expanded product offerings. At #7, the parent company of Edible Arrangements is now delivering hemp-derived THC products to 30 states, proving that national logistics networks are laying the groundwork for future cannabis distribution—even as federal prohibition lingers.Rounding out this segment at #6, Hawaii’s Department of Health is officially backing a move to Schedule III for cannabis, spotlighting the growing role of public health institutions in reform efforts and the potential for improved research, banking, and insurance access.For the Top 5 stories—plus exclusive stock analysis, market data, and interviews—head over to TDR+ for the premium breakdown only The Dales Report can deliver.Subscribe for the latest in cannabis stocks, regulatory updates, and deep-dive market analysis!#CannabisNews #CannabisStocks #MarijuanaLegalization #CannabisReform #Section280E #HempIndustry #MinnesotaCannabis #TexasCannabis #CannabisInvesting #cannabispolicy Want to see more Cannabis Reform videos?   • Congress Exposes Chinese Cannabis Cartel N...     • Trump’s Drug Czar Pick: Cannabis a Biparti...     • Congress Reacts to Trump’s Cannabis Commen...     • Congress Takes Aim at China’s Cannabis Net...     • Déjà Vu in Congress: The MORE Act Returns ...  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...

A major story is developing in Washington: Congressional hearings allege that Chinese-backed criminal networks are using illegal marijuana grows to infiltrate America’s cannabis market. The House Homeland Security Subcommittee’s hearing—dramatically titled “Invasion of the Homeland: How China is Using Illegal Marijuana to Build a Criminal Network Across America”—sparked fierce debate over national security, cannabis reform, and the future of the legal industry.Chairman Josh Brecheen painted a picture of foreign cartels using marijuana for human trafficking, money laundering, and environmental harm, even near sensitive infrastructure. But Democratic Rep. Troy Carter flipped the script, blasting federal marijuana prohibition as a failure that’s hurt communities and stifled justice.This hearing exposed a sharp divide: Is cannabis a homeland security threat or a victim of outdated policy? For regulated operators and investors, the stakes are big. With claims of thousands of illegal grows—especially in Oklahoma—funded by Chinese networks, lawmakers blurred the line between criminal enterprises and legal businesses, risking new stigma and volatility for the entire industry.As the political narrative shifts, regulated operators must double down on transparency, compliance, and clean operations to prove they’re not part of the problem. Meanwhile, the debate over federal reform intensifies, with both parties positioning for credit if rescheduling moves forward.Check out our latest TDR Cannabis in 5 presented by Dutchie as we break down the facts, cut through the rhetoric, and deliver the cannabis policy insights you need to stay ahead in this fast-changing market.#CannabisPolicy #HomelandSecurity #CannabisReform #ChineseCannabis #CongressionalHearing #CannabisNews #MarijuanaLegalization #CannabisStocks #RegulatoryUpdate #CannabisInvestorsWant to see last week's recap?   • TDR Weekly Recap | Tyson, DOJ Bill, and Te...  Want to see more Cannabis Reform videos?   • Trump’s Drug Czar Pick: Cannabis a Biparti...     • Congress Reacts to Trump’s Cannabis Commen...     • Congress Takes Aim at China’s Cannabis Net...     • Déjà Vu in Congress: The MORE Act Returns ...  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...

TDR Cannabis in 5 presented by Dutchie with host Shadd Dales. President Trump’s nominee for drug czar, Sara Carter, just called marijuana a “bipartisan issue” during her Senate confirmation hearing—while keeping all options open on federal cannabis scheduling. What does this mean for cannabis investors, operators, and reform advocates in 2025? We break down the latest signals from Washington and what they could mean for the industry’s future.Carter, nominated to lead the White House Office of National Drug Control Policy, faced tough questions from Senator Cory Booker about moving cannabis from Schedule I to Schedule III. Carter expressed openness to reform and support for more research, but emphasized that the administration is “exploring all options”—with no timeline or guarantees. Her careful language mirrors recent ambiguity from Trump on rescheduling, banking access, and broader legalization.This hearing spotlighted a crucial policy nuance: the ONDCP is barred by law from promoting legalization of Schedule I drugs, making research and advocacy difficult. Booker floated bipartisan legislation to change that, and Carter said she’d support studying cannabis impacts—showing she’s not reflexively opposed to reform.Carter’s record includes praise for medical marijuana and a distinction between regulated markets and illicit grows, aligning with Trump’s strategy of cracking down on illegal supply chains while supporting legal operators.Key takeaways: Rescheduling is still alive, SAFE Banking has campaign support, but uncertainty remains. The bipartisan framing suggests Trump is seeking political cover before making a move. If Carter is confirmed, she’ll continue the trend of drug czars supportive of medical cannabis, with Schedule III rescheduling potentially unlocking research, tax relief, and billions for MSOs.#SaraCarter #DrugCzar #TrumpCannabis #CannabisRescheduling #ScheduleIII #CannabisReform #SAFEBanking #CannabisPolicy #CannabisPolitics #280ETaxReliefWant to see last week's recap?   • TDR Weekly Recap | Tyson, DOJ Bill, and Te...  Want to see more Cannabis Reform videos?   • Congress Reacts to Trump’s Cannabis Commen...     • Congress Takes Aim at China’s Cannabis Net...     • Déjà Vu in Congress: The MORE Act Returns ...     • How SAFER Banking Could Actually Become La...     • Rescheduling Cannabis Is Only the Beginnin...  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...

Congress just held a dramatic hearing—“Invasion of the Homeland: How China is Using Illegal Marijuana to Build a Criminal Network Across America”—spotlighting the scale and impact of illegal cannabis operations tied to Chinese transnational networks. On this episode of Trade to Black, Shadd Dales and Anthony Varrell break down the testimony from top law enforcement, policy experts, and lawmakers, including Rep. Troy Carter (D-LA), who challenged prohibition and called for federal cannabis reform.Witnesses described thousands of unlicensed grows, sophisticated money laundering, human trafficking, and threats to national security—with Oklahoma singled out for up to 12,000 illegal operations. The hearing’s focus on Chinese criminal infiltration, straw ownership, and exploitation of state laws has huge implications for both the legal cannabis market and investors.Trent Woloveck, Chief Strategy Officer of Jushi Holdings (OTCQB: JUSHF), joins us to share what this means for licensed operators and why compliance has never been more critical. Plus, Dan from The Chart Guys breaks down this week’s cannabis stock price action and what to watch for next week.Tune in for expert analysis, market impact, and what this means for the future of the cannabis industry.#CannabisCongress #IllegalCannabis #ChinaCannabisNetwork #CannabisSecurity #HomelandSecurity #CannabisPolitics #CannabisBusiness #CannabisStocks #CannabisReform #TradeToBlackWant to see last week's recap?   • TDR Weekly Recap | Tyson, DOJ Bill, and Te...  Want to see more Cannabis Reform videos?   • Congress Reacts to Trump’s Cannabis Commen...     • Congress Takes Aim at China’s Cannabis Net...     • Déjà Vu in Congress: The MORE Act Returns ...     • How SAFER Banking Could Actually Become La...     • Rescheduling Cannabis Is Only the Beginnin...  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...

President Donald Trump’s latest remarks on moving cannabis from Schedule I to Schedule III under the Controlled Substances Act have set off a wave of new debates and legislative activity in Washington. Lawmakers—including Rep. Ilhan Omar, co-chair of the Congressional Cannabis Caucus—are responding with renewed urgency, as proposals for rescheduling and banking reform gain traction. This episode unpacks the timeline of Trump’s statements, the immediate reactions from Congress, and the ongoing challenges faced by entrepreneurs during state-level cannabis rollouts, especially in Minnesota. We break down how banking access, legal clarity, and policy learning from states like Colorado and California remain at the center of the conversation.TDR Cannabis in Five presented by Dutchie brings you the latest updates on regulatory shifts, Congressional negotiations, and what these changes could mean for both cannabis businesses and investors.While the possibility of rescheduling could offer relief from Section 280E taxation, open doors for research, and ease banking restrictions, the path ahead is anything but straightforward. With no formal timeline, competing legislative priorities, and concerns about health, enforcement, and the adequacy of rescheduling versus full legalization, the future remains uncertain. For those invested in the cannabis sector, the next few weeks could redefine market valuations and industry momentum—or reinforce the risks and delays that have long slowed progress. What will Congressional action mean for the industry—and are we on the verge of true reform or just another round of political posturing?#CannabisRescheduling #TrumpCannabis #CannabisPolicy #CannabisStocks #CannabisNews #CannabisReform #CannabisInvesting #CannabisRegulation #CannabisLegalization #CannabisBankingWant to see last week's recap?   • TDR Weekly Recap | Tyson, DOJ Bill, and Te...  Want to see more Cannabis Reform videos?   • Congress Takes Aim at China’s Cannabis Net...     • Déjà Vu in Congress: The MORE Act Returns ...     • How SAFER Banking Could Actually Become La...     • Rescheduling Cannabis Is Only the Beginnin...  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...

Today we’re talking about the nationwide expansion of Edibles.com, how hemp-derived THC is reaching more consumers than ever, and what this means against the backdrop of federal reform debates and new state-level actions like Governor Greg Abbott’s executive order in Texas. With hemp sitting at the intersection of convenience, wellness, and policy risk, this conversation looks closely at both the opportunities and the uncertainty shaping one of the fastest-moving sectors in the U.S.The TDR Trade to Black Podcast, presented by Dutchie, features host Shadd Dales and co-host Anthony Varrell in conversation with Thomas Winstanley, Executive Vice President of Edibles.com. Together they discuss how the platform scaled from a Texas pilot to covering more than 65% of the U.S., the partnerships with top brands like Wana, Wyld, and Kiva, and how same-day delivery and wellness-driven marketing are reshaping mainstream consumer adoption.This episode also tackles the regulatory landscape head-on. From the Farm Bill debate in Congress to Governor Abbott’s crackdown in Texas, Winstanley lays out how Edibles.com navigates risk, balances national shipping with local fulfillment, and positions itself in a market often described as the “shadow cannabis industry.” For cannabis operators, hemp farmers, and investors alike, this is a clear look at how one company is betting big on hemp-derived THC in 2025.#Cannabis #Hemp #THC #Edibles #FarmBill #RandPaul #SAFEbanking #Rescheduling #Dutchie #TDRWant to see last week's recap?   • TDR Weekly Recap | Tyson, DOJ Bill, and Te...  Want to see more Cannabis Reform videos?   • Congress Takes Aim at China’s Cannabis Net...     • Déjà Vu in Congress: The MORE Act Returns ...     • How SAFER Banking Could Actually Become La...     • Rescheduling Cannabis Is Only the Beginnin...  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...

Senator Rand Paul is stepping into the center of the hemp and cannabis debate in Washington. On one side, licensed cannabis operators argue hemp products are exploiting loopholes and undercutting the regulated market. On the other side, hemp farmers say these products are their livelihood and need a clear framework to survive. Everyone agrees on the need for rules — the question is whether Congress will settle on sensible oversight or move toward an outright ban.The Trade To Black Podcast powered by Dutchie with host Shadd Dales and co-host Anthony Varrell digs into these issues with Senator Paul. He explains why he fought to strip hemp-ban language from the Agriculture spending bill, putting himself at odds with Senate leadership, and how Kentucky’s hemp market could be a model for the rest of the country. Senator Paul also talks about his HEMP Act of 2025, which raises the THC threshold to 1 percent, shifts testing to finished products, and aims to protect farmers while setting consumer expectations.The conversation goes further than hemp. We look at where Senator Paul stands on synthetics like Delta-8, how hemp policy connects to broader cannabis reform, and whether rescheduling could finally give the SAFER Banking Act momentum. For anyone following both industries, this interview lays out the risks and opportunities facing operators, farmers, and investors in 2025 — and what’s at stake if Congress gets the rules wrong.#Cannabis #Hemp #RandPaul #CannabisRescheduling #SAFEbanking #SAFERbanking #FarmBill #Delta8 #THC #TDRWant to see last week's recap?   • TDR Weekly Recap | Tyson, DOJ Bill, and Te...  Want to see more Cannabis Reform videos?   • Congress Takes Aim at China’s Cannabis Net...     • Déjà Vu in Congress: The MORE Act Returns ...     • How SAFER Banking Could Actually Become La...     • Rescheduling Cannabis Is Only the Beginnin...  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...