Berlin and Cohodes on Reform: Hemp, Trump, and Descheduling
Federal hemp legislation could soon change the legal cannabis and hemp markets in the United States. A recent Marijuana Moment op-ed outlines how pending proposals would ban certain hemp-derived products and force adjustments across the supply chain. On the Trade To Black Podcast, presented by Dutchie, host Shadd Dales and co-host Anthony Varrell sit down with Eric Berlin of Dentons to examine what the pending hemp bill would mean in practice. Marc Cohodes also returns to provide an update on federal cannabis reform after his recent trip to Washington, D.C. These are major developments for operators, investors, and consumers paying attention to the future of hemp.
Eric Berlin reacts to Senator Rand Paul’s warning about a possible nationwide hemp ban. He details which categories of products are at risk, how regulators may enforce new standards, and what steps companies should expect if the legislation advances, calling current proposals overbroad and definition-poor. Berlin argues that policy should aim for “safe, legal, affordable access,” with priority on consumer safety, youth access prevention, clear testing and labeling, and rational parity between hemp and state-legal cannabis. Lawmakers, he says, must decide where to regulate and warns that “no quantifiable THC” language invites litigation.
Rep. Griffith’s alternative, says Berlin, still sets thresholds so low it would bar most intoxicating products. On legal mechanics, Congress likely can restrict what’s allowed in products even if the Farm Bill definition of hemp remains. But is he optimistic that we’ll see federal rescheduling to Schedule III under President Trump? Tune in to hear the full interview.
In the second segment of the podcast, Marc Cohodes returns to provide us with an update on federal cannabis reform after his recent trip to Washington. Cohodes outlines the timelines he is hearing for rescheduling under the Trump administration, why descheduling will be the stronger long-term option as a “one-plant solution” if it is ever considered, and how political strategy could shape the outcome.
Cohodes claims eliminating synthetics and illicit supply while enabling exports to Europe could transform the industry’s scale. But is reform likely? Cohodes says he has discussed the topic with Treasury and Homeland Security, and he believes a reform announcement is likely by Thanksgiving, adding that a hemp-ban push will fail as it did in Texas. He also walks through his “Plan to Stop the Insanity,” which includes the Band of Misfit Toys, how Trump could weaken Democrats, and why prohibition continues to fail.
Catch everything our guests have to say on the topic when you listen to the full episode.
