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...