Is Washington Finally Moving On Federal Cannabis Rescheduling?
In the latest TDR Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down the latest news including of Florida, where state officials have reset marijuana legalization campaign signatures to zero amid ongoing legal challenges, comments from Dr. Mehmet Oz, who voiced concerns about high-dose THC and hemp-derived products, and a fresh New York Times op-ed arguing that America doesn’t have a marijuana crisis — it has a cannabis education gap. In segment two, investor and former hedge fund manager Mark Cohodes joins the podcast and explains why he believes federal cannabis rescheduling could be close.
Cannabis markets showed a flash of momentum on Tuesday as hosts Shadd Dales and Anthony Varrell opened the latest episode of Trade to Black noting elevated trading activity in MSOS, which saw roughly three million shares change hands in the final 90 minutes of the session. TerrAscend led the tape with a 19 percent gain on double the average volume, while Verano came in second.
In Florida, officials reset the signature count for the adult-use cannabis ballot initiative to zero amid ongoing legal challenges, effectively pushing any realistic prospect of legalization further down the road. Dales and Varrell agreed that adult use in Florida is not a factor in their 2026 investment thesis, with Varrell noting that the state’s $2 billion medical market — now approaching 930,000 registered patients — remains healthy on its own.
Dr. Oz’s recent comments warning about high-potency hemp products drew attention with both hosts agreeing that the real target of his concern is the unregulated synthetic cannabinoid market found in gas stations and convenience stores — not the licensed cannabis industry. Varrell said he would not oppose reasonable potency caps if they were required to advance broader federal legalization, calling the synthetic market a problem that regulation would quickly render obsolete.
A counter-op-ed published on Marijuana Moment, responding to last week’s New York Times piece claiming “America has a cannabis problem,” argued that the real issue is consumer education. Dales and Varrell praised the reframe, saying the cannabis conversation too often relies on broad generalizations rather than nuanced context around dosage, delivery method, and intent.
Then in the second segment, we interview investor Mark Cohodes, who expressed strong conviction that a federal cannabis rescheduling announcement is imminent, citing his own network of sources and the public positioning of investor Doug Cass. Cohodes argued that rescheduling would quickly be followed by banking access and exchange uplisting for qualified operators, and outlined a bullish long-term vision in which big alcohol, pharma, and beverage companies partner with domestic cannabis cultivators — singling out Glasshouse Brands as best positioned to capitalize on that shift.
