In the latest Trade To Black podcast presented by Flowhub, hosts Shad Dales and Anthony Varrell unpack the bipartisan cannabis bill, then sit down with Flowhub founder and CEO Kyle Sherman to discuss where cannabis technology is headed before Dr. Paul Shields joins the weekly Vantage a Standard segment on CB.

In the headlines, Reps. Andy Barr and Angie Craig introduced the Legal Hemp Protection Act, which would raise the total THC limit to 1% as measured on the finished product, keep intoxicating cannabis legal for adults 21 and older, ban synthetic conversions like Delta-8 and THCP, establish 3-style alcohol rules, and set labeling style rules and THCP. federal retail and THC tax. Dales and Varrell questioned the short-term prospects of a bill to attach to the continuing resolution or end the Nov. 12 ban, and reiterated their view that there should not be two separate industries;

In the first segment, Sherman talked about open cannabis technology ecosystems, arguing that dispensaries with separate systems for POS, e-commerce, payments, loyalty, compliance and analytics need the freedom to choose best-in-class tools rather than being locked into a single vendor’s roadmap. He described what retailers really need to own—their customer relationships, data, brand, and choice of technology partners—and went through Flowhub’s headless commerce offering, Open Ecommerce, which allows operators to build custom websites, apps, kiosks, and new shopping channels without breaking their core system. He also explained why credit card adoption could still be years away even under Schedule III, argued that cannabis will eventually become a bigger category than alcohol as habits shift toward health, and cited Flowhub data showing that 52% of cannabis retailers are already using AI, primarily for data analysis.

In part two, Shields addressed a nearly 50-year research gap into the efficacy of cannabis, arguing that later-stage clinical trials can move relatively quickly given the available safety data. He addressed the gap between a retail dose of CBD and a therapeutic dose, which often starts at around 50 milligrams and goes up to 150-300, and what that means for consistency and production, as many users try an overdose of the product once, feel nothing, and write off the category. He also covered the real risks of cannabinoid interactions with medications such as blood thinners and anti-epileptics, the potential decline of the indica/sativa spectrum in a medical context, and the open research questions surrounding terpenes and environmental influences.

In the latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell explore the recent boom in cannabis and the aftermath of Eli Lilly’s psychedelic encounter with Top Gun Options founder and former fighter pilot Matthew “Whiz” Buckley.

In the headlines: Vireo Growth (CSE: VREO, OTCQX: VREOF) has signed a definitive agreement to acquire the cultivation, manufacturing and retail operations of troubled Cannabist Company (Cboe CA: CBST, OTCQX: CBSTF) – formerly Columbia Care – for up to $35 million in Gerno, Colorado, USA and West Gerno, Massachusetts. The deal gives Vireo up to 25 dispensaries, a processing asset and a manufacturing facility, bringing its national footprint to approximately 230 dispensaries in 15 states, second only to Trulieve.

Dales and Varrell break down how that fits with Vireo’s ten acquisitions this year alone, and discuss whether the pace is smart consolidation or riskier, ultimately benefiting Chief Executive Officer John Mazarakis, who co-founded Chicago Atlantic, with capital discipline questioning the risk of performing in a competitive market in Florida. They also weighed in on a Massachusetts ballot initiative to repeal adult use, arguing that the real danger is low midterm voter turnout and an undereducated electorate.

On Florida Cannabis, they discussed the Nov. 12 federal ban, which is meant to wipe out much of the state’s hemp-derived THC shelf, and why dispensing liquor is complicated. This week, Alabama’s public hearing on statewide marijuana deregulation, in line with the federal move, also took place.

Wiz Buckley called the Eli Lilly (NYSE: LLY ) deal to acquire Athai Beckley (NASDAQ: ATAI ) a bad outcome for shareholders and questioned whether the premium was enough, arguing that executives don’t always act in the best interests of investors. He explained why.

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In the latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell recount the final day of the DEA administrative law judge’s hearing, which surprisingly ended at 12pm Eastern and without any last-minute fireworks; Washington Correspondent Gretchen Gale was reporting from the courtroom at John Malonet and the Standard. With the record now closed, all attention shifts to the ALJ’s recommendation.

Now that the hearing is over, Gale has gone through state testimony filed as a joint district from Nebraska, Idaho and Indiana, which brought two witnesses to bolster their opposition to redistricting. The first was Dr. Deepak D’Souza, a VA psychiatrist and Yale School of Medicine professor who directs the Yale Center for Cannabis and Cannabinoid Science. He focused on the psychiatric side, arguing that existing studies are too limited in scope and rigor to support medical use, and that cannabis carries an increased risk of schizophrenia in genetically predisposed individuals. Dales and Varell pushed back on the shots, drawing parallels with alcohol and predispositions, and argued that a small subset should not disqualify reassignments. A second witness, Sheriff William Honsall of Humboldt County, challenged the idea that legalization is the fastest way to eliminate the illegal market, citing California’s Emerald Triangle and Oklahoma. Varrell countered that these were failures of inconsistent federal guidelines, not arguments against realignment;

Gailey said the judge remains busy and has focused the proceedings on whether hemp meets Schedule III criteria, barring environmental impacts. He read. Prohibitors, including SAM, have not filed their case. Closing arguments at the deadline will be presented in writing on a schedule the judge has yet to set, and he’s betting on October, not the end of the month that some floated; a view reinforced by a built-in 25-day minimum before any recommendation can be made.

In the second section, Malone laid out the ALJ’s role as a neutral finder of fact, creating a defensible record for potential appeals and litigation to follow. He argued that Schedule One is indefensible given the accepted medical uses, that whole-plant botanical cannabis does not fit neatly into Schedule Three or the FDA framework, and that HHS’s substantive recommendation is substantial. He and the hosts explored where pharmaceutical companies fit in, mostly in isolated compounds and extracts rather than the state-regulated market, and pointed to the coming friction between federal planning and state-licensed dispensaries that already dispense cannabis. Malone’s conclusion. the biggest prize is 280E relief.

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