💸 The Tape

A bipartisan coalition of 39 state and territorial attorneys general is urging Congress to close what they call a “grievously mistaken interpretation” of the 2018 Farm Bill — one that legalized hemp but, in their view, accidentally unleashed a national market of intoxicating hemp products.

The coalition — led by Arkansas AG Tim Griffin (R), Connecticut AG William Tong (D), Indiana AG Todd Rokita (R), and Minnesota AG Keith Ellison (D) — sent a letter Friday to congressional leaders calling for federal clarification and criminalization of hemp-derived intoxicants like delta-8 THC, delta-10, and HHC.

Their ask: use the next Farm Bill or appropriations process to rewrite the hemp definition and “leave no doubt” that these products are illegal.

The AGs argue that state-level bans are creating a patchwork that can’t stem the flood of mail-order hemp intoxicants crossing state lines. Their solution: federal prohibition of all products with “intoxicating levels of THC — of any kind and no matter how it is derived.”

That position, while bipartisan, directly collides with hemp industry stakeholders, who warn that such a rewrite could wipe out the $28.4B hemp economy overnight. Most hemp operators favor age-gating, testing, and labeling standards — not a categorical ban — arguing that federal clarity and regulation could separate legitimate producers from bad actors.

Meanwhile, Kentucky’s Senate duo is split:

• Sen. Mitch McConnell (R), architect of the 2018 hemp legalization, has backed language to ban THC-containing hemp consumables.

• Sen. Rand Paul (R) is fighting that effort, proposing his own HEMP Act, which would triple the allowable THC threshold in hemp and codify national standards for testing and labeling.

Paul is also reportedly circulating alternative language for the appropriations bill — calling for a federal study of state-level cannabinoid regulation rather than a blanket ban.

For investors, this marks another inflection point in the ongoing cannabis-hemp collision course. The Farm Bill rewrite is shaping up as the most consequential cannabis policy debate since 2018 — one that could determine whether hemp beverages and delta-8 brands evolve into a regulated adjunct to the legal cannabis market or are legislated out of existence entirely.

📈 Dog Walkers

$CBWTF ( ▲ 3.57% ) Shores Up Balance Sheet

What’s Going On Here: Auxly Cannabis Group Inc. (TSX: XLY | OTCQB: CBWTF) announced it has fully repaid its $5 million inventory loan owed to GrassHopper Capital Inc., wiping the slate clean on both principal and interest. The repayment, made entirely with cash on hand, is expected to save Auxly roughly $900,000 annually in interest expenses — a tidy bit of financial housekeeping that signals improving cash flow and operational health.

“We would like to thank GrassHopper for its partnership over the past two years,” said Hugo Alves, Auxly’s Chief Executive Officer. “Our business is growing profitably, revenue is rising, and a stable cost base is providing operating leverage that’s translating into free cash flow. Strengthening our balance sheet and reducing interest expense was an obvious choice for deploying excess cash.”

The move underscores Auxly’s disciplined capital allocation strategy, prioritizing organic growth investments while improving liquidity and financial flexibility. It also marks another milestone in the company’s steady transformation from a high-growth startup into a profitable consumer packaged goods (CPG) player within the Canadian cannabis sector.

Bottom line: Auxly’s latest debt repayment isn’t just a financial cleanup — it’s a signal. The company is managing its capital like a mature CPG operator, not a speculative grower. With improved cash flow, lower leverage, and a focused growth plan, Auxly continues to build credibility where it matters most — the balance sheet.

$CRON ( ▲ 0.81% ) Give The People What They Want

What’s Going On Here: Cronos Group Inc. (NASDAQ: CRON | TSX: CRON) is getting into the Halloween spirit, announcing the return of its limited-edition SOURZ by Spinach® Caramel Green Apple gummies — a fan-favorite flavor that blends buttery caramel sweetness with tart green apple zing. Following its hit debut last fall, the product makes a triumphant seasonal comeback across Canada.

But this year, Cronos is doubling down on autumn indulgence, expanding the lineup with two new additions:

• SOURZ by Spinach® Fully Blasted Caramel Green Apple, packing 10mg of THC per gummy for those seeking a little extra lift.

• Spinach® Sweet Green Apple 1g vape (Sativa), infused with liquid diamonds and crisp orchard flavor notes.

“Limited-time and seasonal offerings give us a chance to connect with consumers in a fun and flavorful way,” said Mike Gorenstein, Cronos’ Chairman, President and CEO. “After last year’s success, expanding our fall lineup was an easy call — these are flavors people naturally gravitate toward this time of year.”

The Spinach® brand, known for its playful approach to cannabis culture, continues to lead in Canada’s edibles and vapes categories by pairing nostalgic flavors with premium formulations.

Bottom line: Cronos isn’t just selling gummies — it’s selling fall vibes in a bag. And as pumpkin spice fatigue sets in, Caramel Green Apple season might just be the fresh hit cannabis consumers didn’t know they needed.

🗞️ The News

📺 YouTube

Cannabis Growth Meets Cartel Chaos | TTB Powered by Dutchie

What we will cover:

✅ Is Canada’s cannabis sector about to scale globally—and is rural America under siege from Chinese cartels? Tune in today at 4 PM ET for Trade To Black, presented by Dutchie, hosted by Shadd Dales and Anthony Varrell.

Segment One: We kick off with Margaret Brodie, CEO of Rubicon Organics, who breaks down their new Health Canada license for the Cascadia facility in Hope, B.C. This move boosts Rubicon’s annual output by 40%, positions them for international expansion, and signals a major shift in premium cannabis strategy. Brodie shares timelines, branding updates, and what investors should expect in early 2026.

Segment Two: Then we bring on Steve Robinson, Editor-in-Chief of The Maine Wire, whose investigation into Chinese drug cartels has exploded nationally. Since his July appearance on Tucker Carlson, Robinson’s work has been featured on the Shawn Ryan Show, and he’s received private feedback from law enforcement officials confirming the scale of cartel infiltration. His reporting has triggered calls for federal investigations, especially after exposing synthetic drugs like THC-P and 7-OH flooding gas stations. Robinson also reveals how absentee ballots were found in Amazon packages—raising new questions about election integrity.