Episode Details

Shadd Dales and Anthony Varrell sat down with Michael Bronstein, president of the American Trade Association for Cannabis and Hemp (ATACH), to unpack the latest developments in cannabis policy and reform.First up: Pennsylvania. Just over a week ago, HB 1200—a proposal for a state-run cannabis retail model—was rejected by the Senate Law and Justice Committee in a 7–3 vote. Bronstein, who had previously predicted this outcome, explained that the bill’s defeat underscores a growing preference for a market-driven approach to adult-use cannabis legalization. He emphasized the need for Governor Josh Shapiro to take a more active role in the legislative process to build consensus among lawmakers, private operators, and the public.Bronstein also addressed the significant opposition to HB 1200 from law enforcement, the alcohol lobby, and business groups. He discussed strategies for engaging these stakeholders to form a broader coalition in support of cannabis reform. Notably, State Senator Sharif Street suggested that HB 1200 could still serve as a vehicle for ending prohibition in Pennsylvania, provided certain changes are made.Turning to Texas, HB 46’s passage in the House marks a significant expansion of medical cannabis access, particularly for veterans. Bronstein highlighted the bipartisan support for the bill but noted ongoing tensions between local decriminalization efforts and state-level enforcement. He questioned the sustainability of this conflict and discussed the potential impact of federal cannabis policies on state actions.Looking ahead, Bronstein identified several states as underestimated battlegrounds for cannabis reform in the next 12 to 18 months. He advised governors and legislators in politically divided states to engage in open dialogue, prioritize public health and safety, and consider the economic benefits of legalization.0:00:00 - Intro0:00:56 - Cannabis Market Overview0:04:01 - Terry Cole DEA Confirmation Hearing0:10:03 - Curaleaf Expansion into Australia0:12:48 - Upcoming Cannabis Company Earnings 0:15:58 - AVCN Earnings and Financial HighlightsInsider's Edge with Michael Bornstein0:16:19 - Meeting Introduction and Initial Discussion0:22:06 - PA's Budget Process and Cannabis Legalization0:32:07 - State Senate's Approach to Cannabis0:43:49 - Texas Medical Cannabis Expansion (HB 46)0:52:06 - Regulatory Challenges in Cannabis Industry0:53:34 - Market Performance and Stock Discussion (CGC)0:55:03 - Wrap up