💸 The Tape

Nebraska lawmakers are firing up a lively debate over Delta-8 THC products, and depending on who you ask, it’s either about saving lives or saving grannies from felony charges.

Since the 2018 Farm Bill green-lit hemp-derived products with less than 0.3% THC by dry weight, cannabis shops have sprouted across Nebraska like cornfields in July. But not everyone’s feeling mellow about it. Some senators argue that crafty retailers have stretched the spirit of the law to sell potent synthetic cannabis products, leading Sen. Kathleen Kauth to introduce LB316—a bill that would ban any product exceeding 0.3% THC or 10 milligrams per package. After a grace period through year-end, violators could face felony charges. Oh, and she’s throwing a 10% excise tax on what remains legal, just for good measure.

Calling it an "insult" to the legislature’s intentions, Kauth said the original hemp law was about farming, not "peddling dirty synthetic products."

But not everyone’s ready to bring down the hammer. Sen. John Cavanaugh countered with his own plan: regulate, tax, and license Delta-8 businesses without banning products. His amendment would require age verification, special business licenses, and plenty of oversight. Plus, with a potential $7.7 million in annual tax revenue and 1,600 Nebraskans employed by the hemp-derived cannabinoid industry, Cavanaugh argued that fiscal sense should prevail—especially given the state’s $300 million budget hole.

"We have good, legitimate business people," Cavanaugh said, "who just need laws they can actually follow."

Others chimed in: Sen. Brian Hardin noted that Kauth’s bill still allows Delta-8 sales but demands stronger record-keeping, while Sen. Jared Storm stood firm that revenue should never trump public health, calling the products unsafe for kids and adults alike.

Throughout the debate, emotional anecdotes about youth overdoses were lobbed from Kauth’s camp. Meanwhile, opponents pointed out the irony: we don’t ban alcohol or cigarettes despite their dangers.

Sen. George Dungan warned that Kauth’s crackdown could trample voters' apparent support for cannabis reform. And Sen. Wendy DeBoer had perhaps the most relatable concern: what happens when an unsuspecting grandma discovers an old Delta-8 gummy in her medicine cabinet and winds up a felon?

At the end of the day, the real question for Nebraska might not be "to ban or not to ban"—but rather, "can we regulate wisely without tossing Nana in the clink?"

📈 Dog Walkers.

Cannara Shines In Q2

What’s Going On Here: Cannara Biotech Inc. (TSXV: LOVE | OTCQB: LOVFF) reported record Q2 2025 results, with net revenue up 35% year-over-year to $26.6 million and an estimated 3.9% national retail market share, driven by strong growth in Québec, Ontario, and Alberta.

The company posted $3.3 million in net income and $7.1 million in Adjusted EBITDA, marking its 16th consecutive quarter of positive EBITDA. Gross profit rose 52% to $10.8 million, with gross margins hitting 41%, reflecting better yields and cost controls.

Operationally, Cannara expanded its active canopy to over 300,000 sq. ft., boosting production capacity to 40,000 kg annually. With 20+ product launches planned for 2025, Cannara remains focused on profitable scaling and national brand expansion.

Why This Matter: They are making money and cranking out premium cannabis in Canada which is great to see. Full earnings PR below.

GTI Expands Florida Footprint

What’s Going On Here: RISE Dispensaries, owned by Green Thumb Industries (CSE: GTII | OTCQX: GTBIF), announced the grand opening of RISE Dispensary Ocala on April 29, marking its 22nd Florida location and 104th nationwide.

Located at 3873 SW College Road, the dispensary will serve medical cannabis patients with products from RYTHM, Dogwalkers, &Shine, Good Green, and Doctor Solomon’s. A portion of opening day profits will be donated to The Bridge 4 Veterans, supporting transitional housing for veterans.

Green Thumb has deep roots in Florida, with two production facilities in Ocala and Homestead, and emphasizes community impact and quality cultivation practices across its retail network. Delivery services are available around all Florida RISE locations.

Why This Matter: Expansion in Florida has been slow and steady with a cautious approach as A3 stalled in 2024.

🗞️ The News

📺 YouTube

Cannabis Stock Earnings Surge 35%, Texas and D.C. Updates | Trade to Black

What we will cover:

✅ Host Shadd Dales and Anthony Varrell break down the latest developments in the cannabis industry, including updates on SAFE Banking progress and how the top cannabis stocks performed today.

First, Cannara Biotech (TSXV: LOVE) reported record Q2 2025 earnings, showing strong momentum across several areas. CFO Nick Sosiak will be joining us to walk through the results.

Highlights include net revenues of $26.6 million, a 35% increase year-over-year. Gross profit before fair value adjustments rose 52% to $10.8 million, with gross margins improving to 41%.

Cannara also posted its sixteenth consecutive quarter of positive Adjusted EBITDA, more than doubling to a record $7.1 million, up 102% from Q2 2024. National market share expanded to 3.9%, with key growth in Québec, Ontario, and Alberta. Operationally, the company added two new grow zones, boosting total active canopy to over 300,000 sq. ft.

Later, Michael Bronstein, President of the American Trade Association for Cannabis and Hemp, joins us to discuss Texas hemp industry developments, adult-use cannabis progress in Pennsylvania, and feedback from the WSWA’s fly-in to Washington lobbying for D9 beverages.