Blunt Business

Major outlets like PBS NewsHour, NPR, and Forbes are turning their spotlight onto an impending regulatory cliff that threatens to dismantle America's $28 billion hemp-derived THC market. As the year-end countdown accelerates, national reporting is moving beyond niche cannabis circles to expose how closing the 2018 Farm Bill's cannabinoid loophole could wipe out retail shelves overnight.

From the rapid rise of mainstream THC-infused seltzers to severe financial fallout—such as frozen bank accounts and abruptly called commercial loans—this surge in high-profile coverage is transforming an obscure legislative showdown into an urgent economic talking point for mainstream consumers and busi...

Massachusetts is at the center of the nation's cannabis conversation as a looming repeal ballot initiative threatens the livelihoods of nearly 18,000 workers across the state's marijuana industry. Despite the existential risk to these businesses and local jobs, recent polling shows that Massachusetts voters overwhelmingly oppose repealing adult-use cannabis, signaling strong public commitment to maintaining the regulated market.

This critical fight for market stability in the Commonwealth unfolds alongside wider industry maturation, where even traditional commercial insurers are pushing for broader cannabis access to capture demand in states where legal cannabis has firmly taken root.

While the broader cannabis market grapples with steep price compression, state-level missteps in both California and New York have turned promise into an uphill battle for legal operators. In California, despite generating $8.4 billion in economic impact, compliant businesses face relentless margin collapse driven by aggressive competition from an entrenched underground market, forcing the state into continuous law-enforcement crackdowns on illicit operators. Meanwhile, across the country, New York has scaled into a billion-dollar market on paper, yet its licensed operators are suffocating under bureaucratic inertia, regulatory red tape, and storefront bottlenecks that desperately require relief to let operators breathe. Across...

Humboldt Health is breaking new ground with a specialized healthcare captive tailored specifically for cannabis businesses with 50 to 2,000 employees. Blackwell Captive Scott Byrne joins Blunt Business to full us in on the details on the plan offering enrollment on October 1st.

By leveraging shared purchasing power and self-funding models, the program empowers employers with greater data transparency, cost efficiency, and design flexibility that traditional carriers rarely offer. The plan integrates modern solutions—such as 24/7 virtual behavioral health, Outfox AI-driven provider navigation, and the five-PBM "Bwell RX" coalition aimed at curbing pharmacy expenses and reclaiming drug rebates.

...

As the timer ticks down on an impending federal crackdown, the hemp industry faces an existential race against the clock. Mainstream retailers—led by convenience store associations—are urging Congress to hit the pause button on an outright ban and instead establish a regulated, age-gated marketplace for consumable THC products.

Meanwhile, commercial insurers are already recalibrating their risk models and tightening coverage in anticipation of severe legal fallout. With just 30 days left before enforcement deadlines reshuffle the deck, operators across retail and agriculture are caught in a frantic scramble to pivot before time officially runs out on the...

In this episode of Blunt Business, Berner opens up about putting his own money on the line to co-write, co-direct, and produce his gritty Bay Area crime thriller, Splash City.

Rather than waiting around for traditional studio approval, the cannabis mogul and artist invested $2 million of his own capital to deliver a finished film to Lionsgate, exploring San Francisco’s underground wave of "bipping" through the eyes of two brothers on divergent paths.

Berner shares how he navigated two years in the editing bay whittling down a sprawling three-and-a-half-hour cut into a tight 90 minutes, the pr...

The federal government’s increasing acknowledgment of medical cannabis applications marks a pivotal turning point for the sector, granting long-sought validation to consumers and patients alike.

However, this formal legitimacy comes with heightened accountability, obligating operators to raise their standards around clinical credibility, operational transparency, and rigorous patient education.At the same time, the broader market remains caught in a turbulent regulatory transition.

While rescheduling initiatives offer a potential path forward, businesses and their legal advisors continue to navigate persistent banking bottlenecks, restricted capital access, and compounding risks of insolvency and financial distress.

Co...

As the 2026 midterm elections approach, marijuana reform is proving to be a rare unifying force across the political spectrum.

Driven by high-stakes federal rescheduling efforts and a fresh wave of state-level ballot measures, cannabis policy has evolved from a fringe topic into a mainstream, bipartisan priority.

Politicians on both sides of the aisle are increasingly recognizing that "the green vote" could be the key to driving crucial voter turnout, making marijuana legalization one of the most closely watched battlegrounds of the upcoming election cycle.

As the legal cannabis sector eagerly awaits federal reclassification judgments, industry players are aggressively pivoting toward untapped markets and hesitant, first-time consumers. In California, dispensaries are tearing down old retail friction points by introducing state-approved self-checkout kiosks equipped with multi-product RFID scanners, mimicking the familiarity and efficiency of traditional supermarket shopping. 

Simultaneously, New York is expanding access points into everyday public life by enacting legislation that allows small cannabis businesses to sell directly at local farmers' markets. 

By combining friction-free retail automation with accessible, community-based storefronts, the industry is reshaping its sales funnel to court a...

Although the historic DEA rescheduling hearings have officially concluded, the administrative process has ended without an immediate, final ruling, leaving the federal status of cannabis temporarily in limbo.

Despite the lack of a definitive outcome, the hearings marked a monumental breakdown in federal policy: medical cannabis operators are emerging as clear near-term winners due to the immediate relief from Section 280E tax burdens and expedited DEA registration opportunities, while the broader adult-use sector remains caught between federal delays and potential legal challenges.

Operators are now urged to take swift, strategic action—from restructuring tax methodologies to...

As the DEA moves toward rescheduling cannabis, the industry is bracing for a complex transformation defined by regulatory uncertainty and potential legal headwinds. While federal agencies have taken an unexpectedly active role in supporting this transition, the timeline for full implementation remains long and subject to likely legal challenges. Blunt Business speaks with Chris Lynch, partner at Dickinson Wright to chime in.

For businesses, the landscape is currently defined by heavy operational burdens, such as state-specific excise taxes and residency requirements; however, upcoming shifts like Section 280E relief and the prospect of federal trademark protection signal a...

Joe Bayern with MM Brands outlines a strategic roadmap for professionalizing the cannabis industry, emphasizing that sustainable growth requires moving beyond fragmented operations.

Key strategies include adopting a portfolio-based management model to share operational and manufacturing costs, implementing minimalist, needs-based branding to simplify the consumer experience, and navigating regulatory hurdles through omnichannel agility.

Furthermore, Bayern advocates for a "one plant" regulatory framework and anticipates continued industry consolidation, noting that businesses must modernize their supply chains to drive the quality, consistency, and therapeutic reliability essential for long-term mainstream adoption.

Blunt Business welcomes Joe Bayern, the CEO of MM Brands to discuss how the cannabis industry is approaching a potential turning point as DOJ and DEA hearings conclude this July, with anticipation high for a move to Schedule 3 classification.

This reclassification could eliminate 280E tax constraints, driving better profitability, while FDA validation of therapeutic benefits promises to reduce stigma and build consumer trust.

Despite this momentum, the sector faces significant headwinds, specifically a critical shortage of experienced middle management and the ongoing difficulty of maintaining quality control and compliance amidst fragmented, state-specific regulations.

Once again we welcome back Nick Richards, Partner and co-chair of the cannabis law practice group at Greenspoon Marder about how the cannabis and hemp industries currently face a complex landscape defined by existential regulatory threats and critical federal proceedings. Financial institutions are increasingly wary, with potential hemp reclassification jeopardizing banking access and subjecting businesses to high-risk compliance hurdles.

Meanwhile, industry experts are closely monitoring the upcoming DOJ administrative hearings, which represent a pivotal, though non-binding, opportunity to challenge Schedule I status for cannabis. Despite concerns over limited transparency and the exclusion of key industry advocacy groups...

The sports industry is witnessing a landmark normalization of cannabis, highlighted by the WNBA’s recent collective bargaining agreement which removed cannabis from its prohibited substances list in favor of supportive substance abuse treatment programs. While this signals a new era for athlete endorsements and professional branding, the broader cannabis and hemp sector faces a precarious future. Blunt Business speaks with Nick Richards, Partner and co-chair of the cannabis law practice group at Greenspoon Marder.

Businesses are currently bracing for a November 12th federal deadline that could redefine “illegal hemp,” potentially outlawing 95% of current CBD products and creati...

We report on a wave of highly targeted legislative, legal, and medical updates aimed at curbing market disorder and protecting public health.

In the United States, Virginia has advanced a budget deal to its governor establishing a definitive July 2027 timeline for adult-use dispensary sales, while Illinois has enacted precise safety guardrails by banning intoxicating hemp sales to minors and enforcing strict child-proof packaging. This regulatory tightening faces immediate constitutional hurdles in the courts, where Ninth Circuit judges are currently deadlocked over whether sweeping state bans on cannabis billboard advertisements violate free speech.

Meanwhile, international markets...

Dr. Priyanka Sharma, co-CEO of Kazmira Therapeutics and fellow co-CEO Pulak Sharma, cut through the confusion surrounding the rapidly evolving cannabis and hemp sectors. She clarifies the critical distinction between THCA—the non-intoxicating precursor that converts to THC upon heating—and delta-9 THC, noting that current marketing often masks the potential intoxicating effects of heated THCA products.

Dr. Sharma also unpacks the implications of the Schedule III reclassification, explaining why it creates a distinct "two-lane system" for medical cannabis versus industrial hemp rather than a blanket regulatory change.

Kazmira Therapeutics is revolutionizing the CBD landscape by transitioning cannabinoids from over-the-counter health supplements to precision, pharmacist-compounded "real medicine". Led by co-founders Dr. Priyanka Sharma and Pulak Sharma, the company leverages proprietary precision-chemistry—rooted in her background as a chemical engineer—to ensure zero-THC, high-purity formulations.

This clinical approach is increasingly relevant against the backdrop of significant regulatory changes, including the Schedule III reclassification of medical cannabis and recent federal legislation that further defines industrial hemp and hemp-derived cannabinoid products. These regulatory developments, which establish clearer standards such as a 0.4mg total THC limit, are dismantling the mark...

As a massive federal hammer prepares to fall on the hemp industry, progressive states are throwing operators a regulatory lifeline—just as the legal cannabis market faces its own "Big Tobacco" reckoning.

A newly filed federal class-action lawsuit targets major Chicago-based operators like Cresco Labs and Green Thumb Industries, accusing them of "Big Tobacco"-style deceptive marketing that downplays the psychotropic risks of high-THC products.

Yet, against this turbulent backdrop, Midwestern lawmakers are aggressively reshaping the market. Facing a looming November 2026 federal ban on potent hemp products, Minnesota has enacted a landmark omnibus bill that al...

Blunt Business zeroes in on major developments unfolding on the congressional front. It highlights how impending federal rescheduling could significantly alter medical cannabis policies within the Veterans Administration, potentially expanding access for military veterans by allowing VA doctors to discuss and document use, as well as refer patients to state-approved programs.

Additionally, we break down the bipartisan BUILD Act (Building Unrivaled Infrastructure and Long-Term Development Act), a piece of transportation legislation moving toward a House floor vote. The bill directives mandate federal agencies to invest $110 million to research poly-substance impairment and establish standardized, evidence-based driving limits, addressing...

This week on Blunt Business, we’re diving into two massive legal shifts reshaping cannabis markets on opposite sides of the country. First, we break down Georgia’s major policy overhaul as Governor Brian Kemp signs the "Putting Georgia's Patients First Act."From expanding the list of qualifying conditions to include lupus, to lifting strict "end-stage" limitations and allowing adult vaping and edibles, the Peach State is dramatically widening medical access.

Then, we pivot to Washington, D.C., where a high-stakes federal lawsuit challenging the District's cannabis licensing and enforcement system was suddenly dropped. We’ll analyze why th...

As the federal government moves toward rescheduling marijuana, the cannabis industry is eyeing a massive financial shift: the potential for $15 billion in retroactive tax relief from Section 280E. While the transition to Schedule 3 offers a path to future profitability, businesses must act immediately to file protective claims before statutes of limitation expire.

This economic evolution coincides with a significant demographic pivot, as older adults become the fastest-growing consumer group, frequently choosing edibles for pain and sleep management over pharmaceuticals.

However, the move toward higher-potency THC products is a double-edged sword, with new studies linking high-strength...

The potential move to Schedule III presents a massive financial opportunity for "Sin City," yet current local friction threatens to stall that momentum. As the federal government nears reclassification, the industry is at a crossroads between record-breaking growth and a cooling tourist market.

While the city is built on "cashing in," Las Vegas could be losing tourists due to a recent crackdown on public consumption and strict enforcement. For the city to fully capitalize on the "Green Rush," it must reconcile its status as a global playground with the reality of a regulated cannabis market. If tourists...

This episode of Blunt Business explores a significant shift in federal drug policy following a new executive order aimed at accelerating research into psychedelics like LSD, psilocybin, and ibogaine for treating mental health disorders.

The newly signed executive order to direct the FDA to fast-track these compounds through new "National Priority" vouchers.

Beyond psychedelics, the host discusses the impact of GLP-1 weight-loss drugs (like Ozempic) on the cannabis market, noting that dispensaries are seeing a shift in consumer preference toward lower-dose products to mitigate "the munchies."

As the legal landscape evolves, the traditional 4/20 retail boom is showing signs of cooling, with some markets seeing higher sales during the surrounding week than on the holiday itself due to aggressive discounting and operational strain. 

This shift toward a more mature market coincides with significant legal and scientific developments: the District of Columbia is currently citing federal appellate rulings to defend its licensing framework against constitutional challenges, while recent research highlights that THC can impair memory to the point of creating false recollections.

 Furthermore, economists warn that while legalization has spurred a wave of in...

The cannabis landscape in Massachusetts and the broader U.S. market is undergoing a significant correction as regulators and major corporations grapple with the industry's economic realities. 

In a move toward increased oversight and efficiency, a state legislative committee has passed a plan to downsize and restructure the Cannabis Control Commission, signaling a major pivot in how the state manages its legal market. 

This push for reform arrives at a precarious time for the industry, underscored by the news that a major marijuana Multi-State Operator (MSO) has filed for U.S. bankruptcy protections. 

The...

In this episode of The Blunt Business, the discussion dives deep into the complex landscape of the New York cannabis market as it hits its five-year legalization anniversary.

While Governor Kathy Hochul lauds the state’s achievement of $3.3 billion in total sales and the opening of its 600th licensed dispensary, the program highlights a more turbulent reality behind the numbers. Industry experts and operators share insights on the "whack-a-mole" battle against a rampant illicit market, the "red tape" and bureaucracy stifling small businesses, and the ongoing struggle to fulfill social equity promises amidst predatory loans and licensing bo...

Blunt Business dives into the shifting landscape of American cannabis, from the halls of Congress to the microscopic world of medical research.

We break down the newly proposed CLIMB Act, a bipartisan bill aimed at finally opening major U.S. stock exchanges and private lending to state-sanctioned marijuana businesses.

While federal deregulation remains in a "ghost town" phase of waiting for DOJ action, we highlights how these financial hurdles currently stifle minority and veteran-owned entrepreneurs.

Blunt Business tears apart the "bunk" science being weaponized by mainstream outlets like Reuters and The Guardian. By interrogating the raw data behind a widely cited Lancet Psychiatry study, the program exposes a collection of massive research failures—including tiny sample sizes, high risks of researcher bias, and a reliance on pharmaceutical synthetics that bear no resemblance to what consumers actually use.

We call out the "misinformation machine" funded by Big Pharma and shifts the focus to the real story: new evidence linking legalization to crime reduction and the definitive countdown to Virginia’s retail market launch in 2...

David Spang, co-founder of Coastal Green Wellness, dives deep into the turbulent legislative landscape of the Southeast cannabis market. Spang discusses the high-stakes battle against impending hemp bans in South Carolina, advocating for comprehensive regulation over total prohibition to protect both small businesses and consumer safety.

He highlights the human impact of these products—sharing moving stories of how they serve as vital alternatives to pharmaceuticals—and introduces his "out-of-the-box" beverage brand, Nine Dot, which aims to normalize cannabis consumption in social settings. Ultimately, Spang issues a passionate call to action for lawmakers to listen to their cons...

Scot Crow and Benjam Sobczak of Dickinson Wright tare back this week to discuss the industry’s significant $6 billion debt crisis and the necessary survival strategies for compromised companies.

The debt crisis is separate from 280E tax liabilities, rooted in market volatility (like the sharp price drop in Michigan) and poor financial projections made by both operators and lenders. For operators facing default, the critical advice is to make an early decision: either cooperate with the lender's efforts or fight, recognizing that fighting carries the high risk of multi-million dollar personal judgment liens due to personal guarantees (PG...

Scot Crow and Benjam Sobczak of the cannabis practice at Dickinson Wright  the impact of federal Schedule III reclassification and the increasing, albeit complex, role of private equity (PE) in the cannabis sector.

Experts agreed that moving to Schedule III, while providing significant tax relief through the repeal of Section 280E, would not immediately open the floodgates to traditional banking services or major PE funds due to continued federal illegality and existing 'sin clauses' in investment documents.

The current influx of specialized lenders and PE is largely driven by necessity, as distressed operators default on uns...

Joe Salome, co-founder of The Georgia Hemp Company and Simple Leaf Wellness, and former CMO of Halcyon Organics, is a respected figure in medical cannabis policy, instrumental in the passage of Georgia’s landmark Haleigh's Hope Act (2014) and the 2019 Georgia’s Hope Act.

The discussion centers on Salome's personal advocacy, which was ignited after witnessing the therapeutic benefits of cannabis in treating his mother's ovarian cancer, fueling his mission to champion natural alternatives. His legislative work was pivotal in incrementally legalizing low-THC oil access and establishing in-state production and distribution in Georgia.

Key topics addressed incl...

This week we explore the dual impact of cannabis legalisation and rescheduling—focusing on both the massive financial implications for the industry and emerging scientific research on health benefits.

The $2 Billion Tax Windfall The program leads with a deep dive into the potential rescheduling of cannabis from Schedule I to Schedule III under the Controlled Substances Act. Experts estimate that rescheduling could result in a $2.3 billion tax break, allowing businesses to finally show healthy profit margins, attract traditional investors, and move away from high-risk private capital.

Cannabis as a Tool in the Opioid Crisis The di...

After a much-needed hiatus following eight years of consistent broadcasting, Blunt Business has returned in 2026 by reaffirming the show's commitment to raw, unfiltered industry commentary.

This "re-launch" episode marks a strategic shift as the program absorbs its companion series, Grassroots Marketing, to create a single, centralized home for long-form interviews and expert insights.

The discussion quickly moves to the critical news shaping the year, specifically analyzing the slow and uncertain process of rescheduling cannabis to Schedule III following an executive order by President Trump.

From the looming federal hemp ban extension to the...

Blunt Business discusses the evolving landscape of cannabis banking, where Kevin Hart (CEO of Green Check Verified) explained that financial institutions are increasingly engaging with the sector, driven by data transparency, robust compliance standards, and the realization that there is no codified rule preventing them from doing so.

Hart details that Green Check Verified facilitates banking by providing compliance data to financial institutions, enabling services beyond deposit accounts, and anticipated that the potential reclassification of cannabis to Schedule 3 will unlock traditional banking services, reduce capital costs, and attract major players from other industries.

Thomas Winstanley from Edibles.com is back to discuss the critical issue of federally recriminalizing hemp-derived THC products like Delta 8 THC via the congressional spending bill, despite the industry being legalized under the 2018 Farm Bill.

Winstanley emphasized the dire economic consequences for farmers, noting that recriminalization would wipe out a $6.6 billion industry, and argued for a six-month extension to the November 2026 deadline to prevent farmers from harvesting useless crops.

As a political concession to preserve the category, he suggested a focus on codifying the market with a 5-milligram per serving limit for hemp edibles. 

In what is being hailed as a "watershed moment" for the cannabis industry, President Trump has officially signed an executive order to move cannabis from Schedule 1 to Schedule 3 of the Controlled Substances Act.

This historic shift, which follows a bipartisan initiation process started by the Biden administration, formally recognizes the plant's medical benefits for the first time in over 50 years.

Beyond rescheduling, the order explores directing Medicare to cover CBD products and encourages Congress to pass the Safer Banking Act to grant legal businesses access to traditional financial institutions.

Industry experts anticipate the...

Attorney Joshua Bauchner is back to talk about the potential reclassification of cannabis from Schedule I to Schedule III, spurred by reports of an impending executive order from President Trump.

While the move is seen as a beneficial step for research, both speakers and the National Organization for the Reform of Marijuana Laws (Normal) prefer full declassification, expressing concern that reclassification could stall further reform for decades.

They also detailed the expected regulatory complexities of a Schedule III move, including the possibility of prescription requirements for dispensaries, as well as the ongoing challenge of creating...

Ryan Hurley, founder of Litix Legal, discusses the "full swing market correction" in the Arizona cannabis industry, stressing the critical need for lean, compliant operations for survival.

He introduced Litix Legal's model of "killing the billable hour" through flat, subscription-based rates, making legal services more accessible and predictable for businesses burdened by costs like Section 280E.

Hurley cautioned that exploiting the intoxicating hemp loophole threatens voter trust and the industry's future. He expressed cautious optimism about federal Schedule III reclassification as a positive step.