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Are We Finally Close to Cannabis Reform?

By Shadd Dales On Apr 22, 2026

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell are digging into the latest stories in cannabis. Congress may actually have the votes to pass federal cannabis reform. It sounds promising, but as always in this industry, it raises the bigger question—does it finally get done this time? USDA data shows U.S. farmers produced $739 million worth of legal hemp last year. At the same time, parts of that market are facing increased scrutiny, especially around unregulated products. We also touch on Kazmira launching a new medical cannabis education platform, which points to where things could be heading on the healthcare side of the industry. In our second segment, Dan from The Chart Guys joins us to break down cannabis stock performance following 4/20—and how the market reacted after reports that President Trump is pushing his Cabinet to finalize the rescheduling process.

A headline from Marijuana Moment reports that House Minority Leader Hakeem Jeffries claimed Congress has the votes to pass federal cannabis reform. While increased conversation around cannabis legalization is welcome, the space has seen no shortage of promising rhetoric without meaningful legislative follow-through. So the question is: will it happen? We’ll discuss.

A USDA report showing American farmers produced $739 million worth of legal hemp last year — a figure that appears modest against an industry valued at roughly $30 billion. The gap raises serious questions about where the remaining product originates, pointing to unregulated sources and chemical conversion as likely culprits.

Virginia legislators behind the state’s recreational cannabis sales bill were prepared to reject Governor Abigail Spanberger’s proposed amendments, even at the risk of a veto. What does this mean for the state?

Chart analyst Dan from The Chart Guys joined the show to break down the psychedelics sector, which surged following President Trump’s executive order fast-tracking psychedelic research. We go through AdvisorShares Pure US Cannabis ETF (MSOS), along with Trulieve (CSE: TRUL / OTCQX: TCNNF), Curaleaf (TSX: CURA / OTCQX: CURLF), Green Thumb Industries (CSE: GTII / OTCQX: GTBIF), High Tide (TSXV: HITI / NASDAQ: HITI), Tilray (NASDAQ: TLRY / TSX: TLRY), and Organigram (NASDAQ: OGI / TSX: OGI).

Feels like things are starting to line up—but we’ve been here before. All the discussion when you tune in.

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Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.