Today on Trade To Black: Steve Robinson is in the building—and he’s not holding back.Robinson is the Editor-in-Chief of The Maine Wire, an investigative news outlet focused on state policy, accountability, and political transparency. He’s also a former producer for The Howie Carr Show and a well-known voice in conservative media.Lately, he’s been doing some of the most aggressive reporting in the country on how foreign crime syndicates—mainly Chinese-backed operations—are running illegal cannabi...
Jul 15, 2025•1 hr 10 min
Shadd Dales and co-host Anthony Varrell break down the weekly performance on cannabis stocks plus policy reform—starting with big news out of Pennsylvania.Trent Woloveck, Chief Strategy Officer at Jushi Holdings (OTCQX: JUSHF), joins us to discuss the bipartisan adult-use cannabis bill just filed in the Pennsylvania Senate. If passed, this could open the door to one of the largest new recreational cannabis markets in the U.S.—and institutional investors are watching closely. The framework includ...
Jul 14, 2025•1 hr 12 min
Shadd Dales and co-host Anthony Varrell welcome back—former hedge fund manager and activist investor Marc Cohodes, and cannabis entrepreneur and policy strategist Brady Cobb.This latest episode breaks down a major shakeup in Washington. Senator Mitch McConnell—the same lawmaker who helped legalize hemp back in 2018—is now backing a proposal that could effectively ban most consumable hemp products. It’s a surprising turn—and one that’s raising serious concern across the cannabis and wellness sect...
Jul 09, 2025•1 hr 3 min
Shadd Dales sits down with Ryan Crandall, Chief Commercial Officer at MariMed Inc. (OTCQX: MRMD), for a timely conversation on how the company is scaling smart, staying lean, and leading with brand-first execution in some of the most competitive cannabis markets in the U.S.Crandall shares what his expanded role now includes—from R&D to marketing—and how aligning these departments has helped sharpen the company’s product rollout strategy. The two discuss how Betty’s Eddies, Bubbies Baked, and...
Jul 08, 2025•25 min
Shadd Dales and co-host Anthony Varrell react to the latest wave of cannabis rescheduling rumors—and fresh comments from Senator Jeff Merkley (D-OR), who just confirmed what many feared: the SAFER Banking Act is still stuck in gridlock. Merkley says bigger headline items like war and reconciliation bills are taking up all the oxygen in Congress. While he’s hopeful for action “sooner than later,” GOP co-sponsor Bernie Moreno doesn’t expect anything until fall.That’s left the industry asking: Does...
Jul 08, 2025•56 min
Anthony Varrell sits down with Mark Yusko—CEO of Morgan Creek Digital and Independent Director at MetaPlanet, one of the most aggressive Bitcoin Treasury companies in the market.They get into the real mechanics behind the Bitcoin ecosystem and the growing influence of Wall Street:→ Is Bitcoin’s volatility being misunderstood—and why is it actually useful?→ Are institutions using ETFs and futures to tame and control Bitcoin’s price?→ How are Bitcoin Treasury strategies changing corporate balance ...
Jul 04, 2025•1 hr 27 min
Shadd Dales and co-host Anthony Varrell welcome Anthony Coniglio, CEO of NewLake Capital Partners (OTCQX: NLCP), to respond to one of the most provocative interviews we’ve aired to date — featuring former hedge fund manager and institutional investor Marc Cohodes.Earlier this week, Cohodes delivered an unfiltered, high-conviction case for why federal cannabis reform is coming — and fast. He made bold claims: the U.S. government is finally serious about cracking down on the illicit market, and th...
Jul 03, 2025•56 min
Shadd Dales and co-host Anthony Varrell are joined by two heavyweights in cannabis finance and policy to break down the most pressing issues shaping the industry today.First up, Wall Street legend Marc Cohodes returns to the show to discuss the smart — and often overlooked — arguments being used by marijuana opposition. We unpack the latest developments in the Farm Bill, assess the viability of SAFE Banking under a second Trump administration, and debate whether cannabis rescheduling could actua...
Jul 01, 2025•1 hr 16 min
Shadd Dales, Anthony Varrell and GUAP break down the growing divide inside the GOP on cannabis and hemp reform — and why it could shape the 2026 election.A new letter to President Donald Trump — signed by major cultural figures like Mike Tyson, Kevin Durant, Allen Iverson, Roy Jones Jr., Ricky Williams, and Dez Bryant — is urging immediate action on three key issues:1. Clemency for nonviolent cannabis offenses2. Rescheduling marijuana from Schedule I to Schedule III3. Ending discriminatory banki...
Jul 01, 2025•53 min
Shadd Dales sits down with Mike Tyson for a no-filter conversation on cannabis reform, enforcement, and the business of building a global cannabis brand.🔥 Part 1: Tyson shares what he’d tell Donald Trump if asked for advice on the cannabis industry — and breaks down his recent visit to the DEA. He also weighs in on federal rescheduling, and whether it’s a real fix or just the beginning of deeper reform.🌿 Part 2: Tyson sounds off on the dangers of unregulated, street-level cannabis and why clea...
Jul 01, 2025•26 min
Shadd Dales and Anthony Varrell cover major developments in both U.S. and international cannabis markets — from Texas politics to European expansion.First, we break down Governor Greg Abbott’s veto of Senate Bill 3 (SB3) — a bill that would’ve effectively banned all consumable hemp-derived THC products in Texas, including Delta-8 and Delta-9. Abbott called the bill “overly broad,” warning it could unintentionally criminalize parents, veterans, and legal operators. Shadd and Anthony weigh in: was...
Jun 26, 2025•49 min
Shadd Dales hits the ground at Mary Jane Berlin — the largest cannabis event in Europe — where the energy is undeniable and industry momentum continues to build across the Atlantic.Presented by Advanced Nutrients, this episode looks at what’s unfolding in real time — from Germany’s medical cannabis rollout and its push toward domestic cultivation, to the growing presence of North American brands eyeing opportunities in Europe. Back in the U.S., the conversation turns to the recent DEA-led raids ...
Jun 25, 2025•16 min
Anthony Varrell sits down with Michael Bronstein, President of ATACH, and Nick Mortillaro, Executive Director of HILT, to unpack two major developments from Texas that are sending shockwaves through the cannabis and hemp industries.First, Governor Greg Abbott signed a landmark bill expanding the Texas Compassionate Use Program (TCUP), opening access to medical marijuana for patients with chronic pain, TBI, Crohn’s disease, and more. The law boosts product diversity (hello, vapes and suppositorie...
Jun 24, 2025•59 min
Anthony Varrell dives into two of the most critical cannabis conversations happening right now—hemp beverages and federal enforcement crackdowns—with two powerhouse guests.Segment 1: We welcome Adam Terry, CEO of Cantrip, to break down the exploding hemp-derived THC beverage market. From retail trends and consumer behavior to formulation innovation and regulatory navigation, Adam shares what’s working now and where the industry is headed. Whether you’re a cannabis investor, operator, or brand bu...
Jun 20, 2025•1 hr 8 min
Anthony Varrell on The Trade To Black Podcast as he sits down with Hirsh Jain, Founder of Ananda Strategy, for a powerful, insight-packed episode on the state of cannabis reform across the U.S. and beyond.We start in Texas: Is the state a bellwether for national hemp policy? Could intoxicating hemp both advance and stall cannabis reform? What’s Governor Abbott weighing as the June 22nd deadline looms?Explore how major states like North Carolina, Virginia, and Florida are handling their booming u...
Jun 19, 2025•50 min
Shadd Dales and co-host Anthony Varrell dive into a conversation that’s heating up across the country: the growing regulatory divide between hemp-derived THC and state-licensed cannabis. The blurred legal lines are creating friction — not just for consumers, but also for lawmakers, regulators, and cannabis companies trying to compete on uneven ground. One year ago, only eight states had laws in place around intoxicating hemp-derived products. Today, over 40 do — yet there’s still no clear federa...
Jun 16, 2025•53 min
Shadd Dales and Anthony Varrell cover the growing legal and regulatory uncertainty surrounding hemp-derived cannabinoids, including delta-8 and THCA. During a June 4 webinar hosted by the Attorney General Alliance, officials from Florida, Oregon, Nevada, and California confirmed that over 40 states now regulate hemp cannabinoids—up from just 8 a year ago. But state laws remain inconsistent, and federal rules are still unclear.A newly advanced federal bill could ban all hemp products containing “...
Jun 13, 2025•48 min
Shadd Dales and Anthony Varrell return from the Benzinga Cannabis Capital Conference in Chicago, where they spent two full days talking with operators, investors, and financial players across the industry. A lot of conversations centered around banking access, capital constraints, and how companies are adjusting to ongoing market realities.Terry Mendez, CEO of Safe Harbor Financial (NASDAQ: SHFS), who was also at Benzinga will join us to share his take on what’s happening in cannabis banking—wha...
Jun 11, 2025•1 hr 3 min
Shadd Dales and market contributor Anthony Varrell break down four major stories that every serious cannabis investor should be tracking right now.We begin with a bold statement from Brown-Forman CEO Lawson Whiting, who recently admitted that legal cannabis is now a legitimate business risk to the alcohol industry. With U.S. cannabis sales projected to reach $37 billion by 2027, we explore how shifting generational habits are moving capital and consumption away from booze — and toward cannabis.T...
Jun 06, 2025•1 hr
Shadd Dales and Anthony Varrell tackle two high-impact stories shaking the cannabis sector—one in the U.S., the other in Germany—with conversations you won’t want to miss if you’re following medical cannabis, DEA reform, or European market expansion.In Segment 1, we speak with Duane Boise, CEO of MMJ BioPharma Cultivation, who claims the DEA has delayed his FDA-approved cannabis research for over 2,300 days. Boise isn’t holding back—he’s publicly demanding the removal of top DEA officials while ...
Jun 06, 2025•1 hr 4 min
Shadd Dales and Anthony Varrell sit down with Canopy Growth CEO Luc Mongeau to break down the company’s Q1 2025 earnings — and whether this could finally mark the beginning of a true turnaround.Mongeau took the reins in January, and while this wasn’t fully “his quarter,” early signs of change are showing. Adjusted EBITDA losses improved by 60%, and Canopy slashed its debt from $597M to $304M. Revenue remains pressured, but growth in medical cannabis and strength in Claybourne’s infused pre-rolls...
Jun 03, 2025•1 hr
Shadd Dales and Anthony Varrell dive into one of the most immediate pressures facing the cannabis industry—tariffs on Chinese imports—with exclusive insights from Tilt Holdings (NEO: TILT) CEO Tim Conder, who just returned from a trip to China.While some Chinese goods are facing tariffs up to 145%, cannabis vape hardware is being hit with 40% to 55% tariffs, depending on the component. That’s a direct hit to profitability for brands that rely on Chinese-made batteries, cartridges, and devices. T...
May 30, 2025•51 min
Shadd Dales and Anthony Varrell break down two high-impact cannabis stories this week—one from Canada, the other from Texas.First up, Rubicon Organics (TSXV: ROMJ) is showing real financial progress. The company reported $12.4 million in Q1 revenue, a 39% year-over-year increase, and posted $0.7 million in adjusted EBITDA, turning around last year’s loss. Rubicon also captured 5.1% of Canada’s premium flower and pre-roll market and 14.7% of the resin vape category—clear signs that its discipline...
May 30, 2025•1 hr 3 min
Shadd Dales takes a closer look at the growing tension between MediPharm Labs (TSX: LABS) and one of its largest independent shareholders, Apollo Technology Capital Corporation.Apollo, which holds nearly 3% of MediPharm’s shares, is pushing for major change after the company posted its 21st consecutive quarterly loss. With only $8.4 million in cash and over $3.3 million burned in Q1 alone, Apollo believes the company could run out of money by November 2025. They’re also pointing to declining rev...
May 27, 2025•52 min
Shadd Dales and Anthony Varrell dive into one of the biggest stories shaking up the cannabis and hemp space—Texas is on the verge of dismantling its $4 billion hemp industry.The Texas House just passed a bill that would ban nearly all hemp-derived THC products, including delta-8 and THCA flower. With more than 8,000 licensed businesses and tens of thousands of jobs at stake, this move is being seen as a full-scale crackdown. The bill now heads to Governor Greg Abbott’s desk, and all signs point ...
May 27, 2025•1 hr 8 min
Shadd Dales and Anthony Varrell break down some of the biggest stories that have shaped the cannabis industry over the past two weeks—especially during a wild earnings season. One standout? Glass House Brands, which many are calling the best earnings report of the quarter with $44.8 million in revenue, a 149% spike in biomass production, and a sharp drop in costs. It’s a performance that’s got investors paying close attention.Shadd and Anthony sit down with Glass House CEO Kyle Kazan and Co-Foun...
May 22, 2025•1 hr 8 min
Anthony Varrell and guest Anthony Coniglio, CEO of NewLake Capital Partners, for a sharp, no-nonsense breakdown of what tariffs really mean for the cannabis industry. While headlines paint a dire picture, this livestream digs into the facts: most cannabis businesses rely on domestic labor, utilities, and cultivation inputs—meaning the actual exposure to tariffs is limited. That said, imported items like vape cartridges and packaging could see cost increases, and that creates challenges, especial...
May 20, 2025•1 hr 6 min
Shadd Dales and Anthony Varrell sat down with Michael Bronstein, president of the American Trade Association for Cannabis and Hemp (ATACH), to unpack the latest developments in cannabis policy and reform.First up: Pennsylvania. Just over a week ago, HB 1200—a proposal for a state-run cannabis retail model—was rejected by the Senate Law and Justice Committee in a 7–3 vote. Bronstein, who had previously predicted this outcome, explained that the bill’s defeat underscores a growing preference for a...
May 19, 2025•1 hr 1 min
Shadd Dales and Anthony Varrell line up a powerhouse trio of interviews — from capital markets to federal reform.First up, they sit down with Margaret Brodie, CEO of Rubicon Organics (TSXV: ROMJ), to talk about raising capital in this tough environment, the strategic value of being organic-certified, and what she learned from a recent trip to Germany. It’s a real look into what premium positioning means in today’s market.Then, it’s over to Jim Cacioppo, CEO of Jushi Holdings (OTCQX: JUSHF), who ...
May 19, 2025•1 hr 5 min
Shadd Dales and Anthony Varrell sit down with two of the biggest names in the cannabis industry: Beena Goldenberg, CEO of Organigram (NASDAQ: OGI), and Boris Jordan, Executive Chairman of Curaleaf (OTCQX: CURLF).Beena breaks down what’s behind Organigram’s record-setting quarter — with revenue hitting $65.6 million, fueled by the Motif Labs acquisition and strong growth overseas. She also dives into their push into the hemp-derived beverage market, what’s next for their partnership with BAT, and...
May 13, 2025•1 hr 19 min
