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THC beverages are officially hitting the big leagues—and Chicago’s United Center is the proof point.  In Episode 124 of High Spirits, hosts Ben Larson and AnnaRae Grabstein sit down with Rick Schepp (GM of Beverage, Señorita & RYTHM) and Charles Bieler (Co-Founder, Señorita) to unpack what it really takes to build hemp-derived THC drinks that can scale into major venues, national retail, and mass culture. From on-premise conversion and the power of sampling, to effect-led product strategy and the looming “hemp ban” uncertainty, this conversation gets into the operational reality behind the headlines—and why low-dose beverages may be the clearest bridge between cannabis and everyday consumers. What You’ll Learn How the United Center deal came together—and what it signals for concerts, sports, and mainstream adoptionWhy sampling is the #1 lever for driving trial and repeat purchases in THC beveragesWhat “scale” actually requires: supply chain readiness, retailer support, and customer-first executionThe difference between hemp retail vs. dispensary channels—and how dosage shapes the lineHow Rhythm is approaching effect-based beverages (uplift vs. wind-down) to mirror real cannabis use casesHow leaders are scenario-planning for 2026 policy uncertainty without freezing growth Meet the Guests Rick Schepp is the General Manager of Beverage at RYTHM, where he leads strategy, innovation, and commercialization for its THC beverage portfolio, including Señorita. With prior leadership roles at Beam Suntory and experience at Boston Consulting Group, Rick brings a rare blend of CPG rigor and cannabis-specific insight to one of the industry’s fastest-growing categories. Charles Bieler is a veteran beverage entrepreneur and Co-Founder of Señorita. Best known for his award-winning wine portfolio at Bieler Wines, Charles applies decades of winemaking expertise—flavor structure, ingredient integrity, and balance—to THC margaritas, helping elevate cannabis beverages from novelty to legitimate category. Why Tune In? If you’re building in cannabis, hemp, or beverages, this episode is a practical roadmap for navigating retail realities, policy turbulence, and the cultural shift toward low-dose alternatives—without losing sight of what consumers actually want. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Policy and regulation across cannabis and hemp are shifting fast—and operators don’t get to pause the business while Washington debates definitions. On Episode 123 of High Spirits, Ben Larson and AnnaRae Grabstein sit down with Thomas Winstanley, EVP of edibles.com, to unpack what it actually looks like to build and operate through policy uncertainty. From the urgency of 2026 (“do or die”) to the reality that “waiting for clarity” isn’t a strategy, Thomas shares how his team is planning in scenarios, engaging policymakers, and pushing for a framework that preserves consumer access while drawing a real line between good actors and bad actors. They also zoom out to the market signals shaping this moment—like United Center’s multi-year THC beverage deal with GTI and the rise of employee ownership structures (ESOPs)—and why curated product strategies (not endless SKU sprawl) may be the most resilient way to grow. What You’ll Learn Where advocacy is actually being focused as federal hemp policy heats up How to “operate while the rules are still being written” without losing business momentum Why Thomas sees 2026 as a defining year—and what a realistic path forward could include How to plan with contingencies (worst / middle / best case) when the regulatory floor could shift Why unity across competing interests matters—and how to have the hard conversations productively The consumer shift toward low-dose, ratioed products (THC + CBD) as a mainstream on-ramp Why Tune In? If you’re leading a cannabis or hemp business right now, this conversation is a tactical gut-check: how to stay proactive, keep building, and engage in advocacy without getting pulled off mission—especially when certainty isn’t on the table. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

In this edition of This Week in Cannabis Live, our host Ben Larson joins Jay Rosenthal & Jeremy Berke of Cultivated and Marc Hauser of Cannabis Musings for a fast-moving, no-BS conversation on the biggest stories shaping cannabis right now.  From Schedule III claims and missed DOJ deadlines to a surprise hemp bill, New York’s track-and-trace chaos, and the realities behind M&A headlines, this episode is all signal, no fluff. What You’ll Learn: Why cannabis rescheduling is still very much unfinished business What the new “CBD bill” could mean for hemp, THC limits, and regulatory convergence How FDA inaction continues to stall real market clarity The hidden costs and legal risks of New York’s delayed track-and-trace rollout Whether 2026 will truly be an M&A boom—or just distressed deal-making Why regulatory capture, compliance costs, and IP disputes are becoming defining industry risks Meet the Panel: Jay Rosenthal (Cultivated), Jeremy Berke (Cultivated), Marc Hauser (Cannabis Musings), and Ben Larson (High Spirits) bring investor, legal, operator, and media perspectives together for a grounded, sometimes skeptical, always informed take on the week in cannabis. This is real-time analysis from people deeply embedded in the industry’s policy and business trenches. Why Tune In? If you want to understand what’s actually changing—and what’s just being marketed as progress—this episode delivers context, candor, and critical insight every cannabis operator, executive, and investor needs right now. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Cannabis is leaving its “startup era”—and the next phase won’t be won by hype. It’ll be won by operators who can build trust, standardize the experience, and run tighter businesses in a margin-crushed market. On Episode 122 of High Spirits, hosts Ben & AnnaRae sit down with Ashwin Raj, CEO of LeafLink, to unpack what he’s seeing from the center of cannabis wholesale—where billions in transactions reveal the real signals of industry health. Ashwin draws sharp parallels to ride-sharing and e-commerce, and makes the case that consumer education, product standards, and tech-driven compliance are the keys to unlocking the next wave of growth. They also go inside LeafLink’s pricing-model backlash (and reversal), the strategic logic behind acquiring DAMA Financial, and why the industry’s biggest bottlenecks aren’t just regulatory—they’re operational. What You’ll Learn Why consumer education + product standards are still a massive gap in cannabis (especially vs. alcohol)The “signals from the middle” LeafLink sees that predict operator distress before it hits the headlinesHow policy decisions (like license caps or overload) drive price compression and market instabilityWhat Ashwin learned from the LeafLink pricing uproar—and why predictability matters in cannabisHow the DAMA Financial acquisition connects payments, AR/AP, and compliance into one systemVerticalization vs. specialization: what’s winning now—and what likely wins long-termMeet the Guest Ashwin Raj is the CEO of LeafLink, a platform at the center of cannabis wholesale powering billions in transactions across thousands of companies. Before cannabis, Ashwin led in industries that scaled ahead of regulation—holding leadership roles at Lyft, Amazon, and ezCater across marketplaces, payments, and operational infrastructure. He brings a “build for the long term” mindset to cannabis, with a clear emphasis on listening to customers, simplifying complexity, and using tech to turn compliance into confidence. Why Tune In? Because this episode isn’t about wishful thinking—it’s about what the data actually says. If you’re an operator, brand, retailer, or investor trying to survive (and win) the next phase of cannabis, Ashwin’s “middle-of-the-market” view will sharpen your strategy fast. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Two of the most durable edibles brands in cannabis just joined forces—and the backstory is pure “mature-market grit.”  On Episode 121 of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with Aaron Morris (Founder & CEO of Wyld) and Draper Bender (President of Grön) for their first interview together following Wyld’s acquisition of Grön. They unpack why Oregon breeds profitable operators, how “market compressions” shape winning playbooks, and what it takes to build a real national platform in cannabis without hype, bankers, or venture-fueled burn. Plus: a rapid-fire policy rundown—from the federal “Baird bill” hemp delay to state-by-state adult-use pushes and rollback campaigns—setting the stage for what 2026 could mean for operators. What You’ll Learn Why Oregon’s repeated price compressions create tougher (and better-prepared) brandsHow Wyld and Grön scaled with distribution-first strategy and strong retail relationshipsWhat “one plus one equals five” actually looks like when two profitable operators combineThe real role of form factor + product consistency in consumer loyalty (and why “innovation” is often overrated)How they think about hemp vs. regulated cannabis distribution—and what’s changing fast in 2026Why most cannabis M&A dies at the finish line… and how this one got doneMeet the Guests Aaron Morris is the CEO of Wyld, one of the largest edibles companies in the U.S., known for disciplined execution, quality, and a distribution engine built to scale. Draper Bender is the President of Grön, the brand behind the iconic Pearls and Megas—playful products with serious operational rigor and deep retail relationships. Why Tune In? If you’re building in cannabis through margin pressure, policy whiplash, and retail gatekeeping, this episode is a masterclass in durability, distribution, and dealmaking the hard way—from two operators who’ve already survived multiple rounds of compression and came out bigger. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

What actually changes for cannabis in 2026—and what’s still just wishful thinking?  Join the teams from Cultivated Media, High Spirits: The Cannabis Business Podcast, and Cannabis Musings for This Week in Cannabis Live | 2026 Prediction Show.  From rescheduling realities and 280E implications to M&A strategy, hemp-derived beverages, and where not to start a cannabis business, this conversation cuts through the noise with grounded, operator-first insight. What You’ll Learn: Why rescheduling may help strong operators—but won’t save bad businessesAnnaRae’s take on why “Big CPG is coming” is still mostly hype for 2026Whether 2026 is the year to buy cannabis assets—or stay patientWhat actually gets easier if 280E goes away (and what stays broken)The uncertain future of hemp-derived THC beverages and low-dose carveoutsWhich parts of the cannabis value chain to avoid entirely right now Why Tune In? If you’re a cannabis or hemp operator trying to separate real opportunity from recycled narratives, this episode delivers clarity. AnnaRae’s predictions aren’t about hype—they’re about timing, discipline, and surviving long enough to win. Catch This Week in Cannabis Live on LinkedIn with Cultivated every Friday @ 9AM PT / 12PM ET. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

New year, new signals—and cannabis is entering 2026 with policy momentum, consolidation heat, and a growing demand for real numbers (not vibes). In Episode 120 of High Spirits, hosts Ben Larson  & AnnaRae Grabstein sit down with Cy Scott, Co-Founder & CEO of Headset, to break down what 2025 actually told us—and what to watch as rescheduling moves forward and markets keep maturing. From New York’s explosive growth to the margin squeeze hitting legacy states like California and Michigan, Cy brings a data-driven lens to the questions operators and investors are asking right now: Where is growth still real? Why do prices keep falling in mature markets? And how could Schedule III reshape profitability, M&A, and investment appetite across the industry? What You’ll Learn The biggest 2025 market storylines (and why New York is still “emerging”)What price compression is really doing to top-line sales and retailer survivalHow discounting impacts baskets, margins, and the downstream supply chainThe potential financial upside of rescheduling—especially via 280E reliefWhy cannabis retail data may be more reliable than traditional CPG measurementHow hemp beverages and mainstream retail exposure could reshape consumer adoptionMeet the Guest Cy Scott is the Co-Founder & CEO of Headset, a leading cannabis retail data and analytics platform used by brands, retailers, and investors to understand market performance in real time. Before Headset, Cy co-founded Leafly, helping define early consumer discovery in legal cannabis—and he’s been building in the space since the industry’s earliest days. Why Tune In? Because 2026 won’t reward guesswork. If you’re making bets on growth, pricing, capital, or brand strategy this year, this episode helps you read the signals—and stay ahead of what rescheduling, consolidation, and consumer behavior are about to change. y0VRUCtHX8mBEyMyDDdb Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

It’s a cozy year-end check-in—and a clear-eyed look at what’s next. Recorded Tuesday, December 30, 2025, Ben & AnnaRae close out the year by revisiting their 2025 predictions, unpacking what actually happened across regulated cannabis and hemp-derived THC, and setting the tone for 2026: faster, sharper, and more focused. From the surreal experience of finding cannabis policy debates in a 1969 Playboy issue to today’s rescheduling whiplash, this episode zooms out on the long arc of reform—and zooms in on what operators should be watching right now: enforcement, consolidation, mainstream retail adoption, and the fight for sensible regulation. What You’ll Learn Which 2025 predictions came true (Farm Bill punt, beverages gaining share) — and which didn’tWhy **states—not feds—**continue to shape enforcement (and where that breaks down)The real outlook on rescheduling vs. descheduling and why “it’s not enough” is the next phaseHow THC beverages are winning consumer mindshare—and pulling mainstream retail along with themWhat consolidation actually looked like in 2025 (and why the “real M&A wave” may still be ahead)Why 2026 demands speed, clarity, and fundamentals—aka the “Fire Horse” mindsetHave a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

On this special This Week in Cannabis episode Presented by Cultivated Media, High Spirits hosts Ben & AnnaRae join Jay & Jeremy from Cultivated and Marc Hauser of Cannabis Musings to break down the biggest cannabis policy story of the year: the federal push to reschedule marijuana to Schedule III. Recorded live just days after the announcement, this conversation cuts through the hype to examine what actually changes—and what still hangs in the balance—for cannabis, hemp, banking, and dealmaking. Tune in Fridays at 9AM PT / 12PM ET at youtube.com/@CultivatedMedia. What You’ll Learn: What cannabis rescheduling to Schedule III actually does—and doesn’t—changeWhy 280E relief is the real financial unlock operators are watchingHow rulemaking, lawsuits, and Congressional action could still derail progressWhat this moment means for hemp-derived THC, CBD, and the Farm Bill fightWhy deal flow, M&A, and market volatility may surge in early 2026The myths around SAFE Banking, uplisting, and credit card acceptanceMeet the Panel: This episode features insights from Jay Rosenthal and Jeremy Burke of Cultivated Media, Marc Hauser of Cannabis Musings, alongside Ben Larson & AnnaRae Grabstein of High Spirits. Together, they bring perspectives from policy, media, finance, and operations to unpack one of the most consequential weeks in cannabis history. Why Tune In? If you’re a cannabis or hemp operator trying to separate real opportunity from political theater, this episode is essential listening. The headlines say “historic”—this conversation explains what survival, growth, and strategy actually look like next. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

This episode of High Spirits is a little different. Recorded live just days before a major federal shakeup, hosts Ben & AnnaRae dive headfirst into the state of cannabis media, policy uncertainty, and what survival really looks like heading into 2026. From the collapse of trusted cannabis journalism to bold predictions around Schedule III, hemp legislation, M&A, and THC beverages, this conversation captures the raw, unfiltered realities of an industry that refuses to die—even when no one seems to be watching. Despite technical issues early in the live recording, the second half delivers a powerful, timely discussion. 🔍 What You’ll Learn Why the collapse of cannabis media creates real risks for operators and policymakersHow fewer reporters and less oversight impacts enforcement, compliance, and public perceptionWhat rescheduling to Schedule III might (and might not) actually changePredictions for 2026: M&A, receiverships, and alcohol’s move into THC beveragesWhy hemp and cannabis brands may need unified strategies to surviveThe unexpected optimism behind an industry that keeps adapting—cockroach-style🎙 About This Episode Ben and AnnaRae reflect on the responsibility of independent cannabis media amid newsroom layoffs at outlets like The Wall Street Journal, Politico, and MJBiz. They also highlight the importance of supporting investigative journalism from platforms like Weed Week and Cultivated—because when no one is watching, bad policy thrives. 🌱 Why Tune In? If you work in cannabis, hemp, beverages, or adjacent industries, this episode offers clarity, realism, and hard-earned optimism. It’s a reminder that even in chaos, this plant—and the people building around it—are shaping one of the next great American industries. Survival isn’t optional, but neither is hope. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Recorded live on December 5th from Las Vegas, this recording of "This Morning in Cannabis Live" brings together industry leaders, entrepreneurs, and experts for candid conversations about the current state and future of cannabis and hemp. The hosts—Jay Rosenthal, AnnaRae Grabstein, Marc Hauser, and Jeremy Berke—guide discussions on rapid business growth, regulatory challenges, market innovation, and the importance of advocacy and data-driven decision-making. The episode features in-depth interviews with executives, attorneys, journalists, and scientists, offering insights into scaling cannabis businesses, navigating shifting policies, and driving product innovation. From the realities of launching new markets to the science of cannabinoids and the power of industry collaboration, this episode provides a comprehensive look at the evolving cannabis landscape. Guests and Timestamps: Kim Sanchez Rael (Azuca) Starts at ~2:06 Discusses Azuca’s growth, quality partnerships, ingredient branding, and the challenges of scaling in cannabis. Jason Tarasek (Vicente LLP) Starts at ~30:16 Covers Minnesota’s cannabis rollout, federal and state policy impacts, and the prospects for medical cannabis in Wisconsin. Jeremy Berke Arrives (Cultivated) Starts at ~52:00 Shares perspectives on industry trends, the capital crunch, and the role of journalism in cannabis. Rick Bashkoff (Lit Alerts) Starts at ~1:09:00 Explains how data is transforming cannabis business decisions and the need for industry-wide advocacy. Chris Emerson (LEVEL) Starts at ~1:22:00 Explores cannabinoid innovation, consumer education, and the challenges of multi-state expansion. Hosts: Jay Rosenthal, AnnaRae Grabstein, Jeremy Berke, Marc Hauser Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Recorded Live on December 3rd from Las Vegas, this special episode of "This Week in Cannabis" brings together industry leaders and insiders to discuss the latest trends, challenges, and opportunities in the cannabis and hemp sectors.  We dive into federal policy, market expansion, retail innovation, and the evolving landscape of cannabis journalism. Featuring in-depth interviews with entrepreneurs, executives, and retailers, the episode offers a candid look at the state of the industry, from regulatory hurdles to product innovation and community building. Guests and Timestamps: Thomas Winstanley (Edibles.com) Starts at ~2:08 Discussion on hemp-derived THC, federal policy, and the future of edibles and consumer access.Vahan Ajamian (High Tide) Starts at ~23:23 Insights on High Tide’s expansion into Germany, the dynamics of the German cannabis market, and international retail strategy.John Prentice (JointCraft, "Pre-Roll King of Canada") Starts at ~39:39 Covers the evolution of pre-roll manufacturing, scaling production, quality control, and the importance of specialization in cannabis business.Chris Casacchia (Journalist, Cultivated/MJBiz) Starts at ~1:14:03 Explores the state of cannabis journalism, the impact of media coverage on the industry, and regulatory issues in New York and beyond.Elisa Keay (K's Pot Shop, Toronto) Starts at ~2:01:51 Shares lessons from running a community-focused cannabis retail store, navigating licensing, competition, and building customer loyalty.Hosts: Jay Rosenthal, Marc Hauser, AnnaRae Grabstein, Ben Larson, Jeremy Berke Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

The mics take a breather, but the cannabis market doesn’t. We’re wheels up for MJBizCon and our High Spirits Morning Mixer on Thursday, and then straight to BevNET, while state and federal moves reshape the map from Texas to Virginia to Minnesota to California. We start with Texas, where regulators approved nine new medical licenses in a historically tight program. It’s a modest step with big implications: recognition that demand is outpacing capacity, but who will be the winners? For operators eyeing long-term positioning, Texas remains a massive, underdeveloped prize where patience, compliance, and local partnerships can compound. Minnesota faces a different pressure: the looming federal hemp THC ban embedded in a congressional minibus. The state’s hemp-derived THC market—thousands of retailers and strong consumer buy-in—could be gutted overnight. The governor is exploring rapid rulemaking, carve-outs, and potential court challenges to protect businesses until adult use retail is fully stood up. How Minnesota responds may become the national playbook for preserving economic activity amid federal whiplash. Virginia looks ready to convert legalization on paper into real stores. A bill targeting adult use sales in 2026 would finally establish a regulated retail framework, address social equity, and balance political priorities after years of stalls and illicit market growth. If it moves, Virginia could become the first Southern state with full adult use, forcing regional recalculations and opening a high-potential market. And California turns the screws on packaging. With a new top regulator and CalRecycle implementing SB54, brands must enroll in a PRO, report packaging at the SKU level, plan for recyclability and compostability by 2032, and meet aggressive plastic recycling targets. Expect cost shifts, supplier consolidation, and innovation in materials, especially for vapes and multi-layer plastics. The winners will treat compliance as strategy, integrating sustainability into brand and supply chain decisions. Headed to Vegas? Come say hi at the High Spirits Morning Mixer on Thursday. If this breakdown helped you navigate the noise, follow, share, and leave a quick review—what state move should we unpack next? Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

We unpack the 365-day clock facing hemp-derived THC beverages, why the category exploded, and how a policy rider vaulted prohibition-style limits into law. Martín Caballero of BevNet joins us to map realistic paths forward, where coalition power lives, and what compromises might actually work. • why hemp-derived THC drinks resonated with mainstream shoppers • how a funding bill rider created the new 0.4 mg per package limit • why fragmented advocacy loses to unified, well-funded lobbies • lessons from retailers and distributors who want the shelf to stay • a pragmatic path: low-dose through three tiers, higher dose in cannabis channels • why beverages won’t simply shift to illicit markets or dispensaries • what data, packaging, and age-gating standards could secure legitimacy • the role of investors, timelines, and state-level regulators • scenarios for compromise without collapsing innovation If you've enjoyed this episode, please stop, like, subscribe, share, do all the things Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

We unpack the federal push to restrict hemp products, then turn to a grounded model for the future: regenerative organic cannabis. Darren Story from Coastal Sun shares how soil health lowers costs, why OCAL matters, and how compassion and affordability can scale. • hemp policy shock and what it means for access • lessons for advocacy and industry unity • Darren’s path from blueberries to cannabis • WAM partnership and medical-first roots • OCAL certification and consumer education • regenerative farming practices and cost • navigating DCC rules and animal integration • brand positioning and diverse consumers • greenhouse tech for organic at scale • expansion via teaching and partnerships • wellness ethos, leadership, and discipline • affordability, SP34 donations, and unit economics • measured growth and a five-year vision Sign up to apply for an invite: highspiritspod.com/morning-mixer If you've enjoyed this episode, please stop, like, subscribe, share, do all the things Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.