High Spirits: The Cannabis Business Podcast

Hosted by AnnaRae Grabstein and Ben Larson

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Episodes

152

Latest episode

Jun 2026

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EN-US

About the show

Hosts Ben Larson and AnnaRae Grabstein serve up unfiltered insights, reveal their insiders' perspectives, and illuminate transformative ideas about the cannabis industry for people who want to make sense of it all.

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June 11, 2026Episode 14148 min

#141 - Cannabis Biz News Roundup: CANRA Insights, Trulieve’s NYSE Debut & AI Labels w/ Ben & AnnaRae

Cannabis Business News Roundup w/ Ben & AnnaRaeThe landscape of cannabis and hemp policy is shifting beneath our feet faster than ever, forcing operators to constantly adapt to changing regulatory enforcement and market expansions. In this rapid-fire roundup, hosts Ben Larson and AnnaRae Grabstein dial in from across the country to break down the massive institutional shifts happening this week in public markets, state enforcement, and national policy.In this episode, Ben joins directly from a break at the invitation-only CANRA (Cannabis Regulators Association) meeting in Oklahoma City to share what regulators are saying behind closed doors about cannabinoid access. Together, they unpack the structural drag of Metric track-and-trace fees, the strategic pivot toward debt over equity capital, and the industry-altering milestone of Trulieve listing on the New York Stock Exchange. They also discuss California's clunky new voluntary AI packaging review tool, state-level updates from Louisiana and Idaho, and a hopeful push toward contiguous, multi-state laboratory testing standards.What You’ll Learn:Behind the Scenes at CANRA: What state regulators really think about where hemp and cannabis cannabinoids should be sold.The Track-and-Trace Financial Drag: Why operators and regulators alike are pushing back against the operational costs of Metric data-point fees.Trulieve on the NYSE: What Trulieve’s historic New York Stock Exchange debut means for cannabis public equities and broader market liquidity.AI vs. Regulatory Reality: A critique of the California DCC's new voluntary AI image tool designed to flag youth-appealing packaging.Why Tune In? This conversation delivers unfiltered, executive-level context on the financial and regulatory infrastructure changes that will dictate how your business secures capital, designs packaging, and moves product across state lines.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.

June 4, 2026Episode 1401 hr 0 min

#140 - Unlocking the Power of Minor Cannabinoids: Proving the Science of CBN with Alleh Lindquist of FloraWorks

As the cannabis industry matures, the conversation is shifting from basic intoxication to precise, effect-based wellness. But how do we bridge the gap between consumer anecdotes and true scientific validation for minor cannabinoids?About This EpisodeIn this episode of High Spirits, Ben Larson and AnnaRae Grabstein sit down with Alleh Lindquist, CEO of FloraWorks, to explore the rapidly evolving landscape of minor cannabinoids. Alleh shares how FloraWorks transitioned from a wholesale supplier to a clinical research pioneer, paving the way for CBN to become a mainstream, trusted ingredient in the global wellness market. They dive deep into the regulatory hurdles of the upcoming hemp landscape, the reality of running a 1,000+ person clinical trial, and the incredible therapeutic potential of CBN beyond sleep.What You’ll LearnThe Clinical Blueprint for Cannabinoids: Why a 50mg dose of pure CBN outperformed melatonin in a landmark double-blind, placebo-controlled sleep study—and what this means for product formulation.Navigating the Regulatory Gray Zone: How to structurally and legally position structure-function claims (like "improving sleep quality") on product packaging without triggering FDA disease claims.The Future of Cannabinoid Research: A look into FloraWorks’ ground-breaking collaboration with the Salk Institute, where CBN is showing massive potential in reversing age-related cognitive decline and protecting neural pathways.Embracing Uncertainty as a Leader: Actionable advice on how operators can survive current market instability while building a 10-year vision for a stigma-free, mature industry.Meet the GuestAlleh Lindquist is the CEO of FloraWorks, a specialized cannabinoid data and technology company dedicated to the clinical verification and commercialization of minor cannabinoids. Under his leadership, FloraWorks has standardized its patented manufacturing processes to approach FDA dietary ingredient pathways and pioneered massive real-world evidence trials. Alleh is a recognized voice in navigating frontier markets, dedicated to collaborating with researchers, clinicians, and major brands to professionalize the cannabinoid supply chain.Why Tune In?If you are an operator, entrepreneur, or investor looking to understand how the cannabinoid market will survive shifting regulations and integrate into the broader healthcare and dietary supplement spaces, this conversation provides the ultimate scientific and strategic roadmap.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.

June 4, 202628 min

TWICL(May 29, 2026) - NY's $10M for Seed-to-Sale, Curaleaf's Reverse Split & SAM Gets Tossed

This week on This Week in Cannabis Live, Jay Rosenthal, Jeremy Berke (Cultivated), plus Ben Larson of High Spirits and Marc Hauser of Cannabis Musings, break down the biggest stories in cannabis business and policy.New York's fiscal 2027 state budget locks in roughly $10 million for the seed-to-sale track and trace system — a win Cultivated first reported after an interview with Assemblymember Landon Dais. Curaleaf announced a 1-for-3 reverse stock split ahead of a potential Nasdaq uplisting, with CEO Boris Jordan targeting a major U.S. exchange as the company consolidates its share price. And a federal judge dismissed SAM's lawsuit challenging the Trump administration's Medicare hemp coverage program, ruling the group lacked standing to challenge the CMS initiative covering up to $500 in hemp-derived products annually for eligible patients.Plus, Jay shares highlights from Thursday's Midwest Cannabis Forum in Chicago.This Week in Cannabis Live airs every Friday at noon ET/9 AM Pacific on LinkedIn and YouTube. Subscribe at cultivated.news!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.

May 27, 2026Episode 1391 hr 2 min

#139 - Discernment, Reinvention and Becoming Media People in Cannabis with Ben & AnnaRae

Nothing in the cannabis and hemp markets moves in a straight line, and lately, the operational whiplash has been more intense than ever. In this unpolished and deeply personal episode, hosts Ben Larson and AnnaRae Grabstein step away from the usual guest format to unpack what it actually takes to lead when the industry forces you to slam on the brakes.About This EpisodeIn Episode 139, Ben and AnnaRae pull back the curtain on their own recent business realities, reflecting on the transition from the hyper-growth of hemp beverages in '24 and '25 to the pragmatism required in 2026. They dive into the personal tax of saying "yes" to the wrong revenue, the power of setting firm operational boundaries, and how the introduction of AI is fundamentally restructuring executive advisory teams. This raw conversation offers a real-time case study in founder reinvention, governance, and maintaining a high-spirits mindset during economic and regulatory contraction.What You’ll LearnThe Power of Discernment: When turning down high-dollar contracts can actually create the critical operational space needed to support your core portfolio.Surviving the Whiplash: Strategic tactics for transitioning your leadership style from an optimistic growth founder to a pragmatic, survivalist CEO.AI as an Executive Advisory Board: How to build a digital brain trust to rapidly stress-test business decisions without the overhead of expanded human teams.What "Adulting" in Cannabis Means: Why consistency, transparency, and building data-backed trust with your board outweighs performative professionalism in volatile markets.Why Tune In?If you are a cannabis or hemp operator currently navigating market realignments, board dynamics, or shifting regulatory headwinds, this episode provides the grounded validation and strategic fundamentals necessary to trade fear-based opportunism for sustainable, long-term business health.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.

May 21, 2026Episode 13857 min

#138 - Unmasking Cannabis Pathogens with TUMI Genomics CEO Melanie Nash

In an industry squeezed tight by relentless global price compression, cannabis operators can no longer afford to pay a premium for operational inefficiency. Yet, an invisible enemy is quietly draining up to 40% of cultivation yields across the country.About This EpisodeIn this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein go back to the roots of the industry to explore the critical, often misunderstood world of plant genetics and pathogen prevention. They sit down with Melanie Nash, CEO of TUMI Genomics, to pull back the curtain on how commercial operations are inadvertently spreading devastating crop diseases and why treating pathogen management as a business system—rather than a crisis response—is the ultimate lever for protecting wholesale profit margins.What You’ll LearnThe Invisible Profit Killers: The big three pathogens—Hop Latent Viroid (HLVd), Fusarium, and Pythium—and why HLVd alone is costing untested facilities roughly 1 in every 10 pounds produced.The Tissue Culture Myth: Why standard tissue culture is just "mini-cloning" and the crucial scientific difference behind true apical meristem tissue culture for cleaning genetics.Ag-Style Operational Infrastructure: How sophisticated cultivators are shifting away from risky, time-consuming in-house pheno-hunting to focus on strict quarantine and preventative testing protocols.CEO Evolution & Scaling with AI: How Melanie transitioned from a hands-on COO to a strategic CEO using the EOS framework, while leveraging data and AI to build predictive pathogen tracking models.Meet the GuestMelanie Nash is the Chief Executive Officer of TUMI Genomics. She brings over a decade of deep operational infrastructure experience across the cannabis supply chain, moving from early retail management to leading large-scale nursery operations in California. Previously serving as COO at Dark Heart Nursery—where her team first identified Hop Latent Viroid in cannabis—and later as COO at Purple City Genetics, Melanie possesses a rare blend of deep scientific credibility, operational instinct, and a passion for helping cultivators build scalable, disease-free business models.Why Tune In?If you are a cannabis executive, entrepreneur, or cultivation director, this episode is a masterclass in operational risk management. You will walk away with actionable insights on how to secure your supply chain, audit your testing lab’s scientific validity, and stop catastrophic crop losses before they hit your P&L.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.

May 21, 202627 min

TWICL (May 15, 2026) - DEA Registration Wave, GA's Medical Milestone & What Earnings Season Told Us

Join the teams from Cultivated, High Spirits, and Cannabis Musings for your weekly roundup of the biggest stories in cannabis.The DEA just announced it's opening a new registration window for cannabis manufacturers, growers, labs, and distributors — and with nearly 400 dispensary applications already in the pipeline, the race is on. We break down what operators need to know before applying, including the disclosure questions that are most likely to sink an application.Then we're joined by Judson Hill of Fine Fettle for a live segment on what Georgia's newly signed medical cannabis expansion means on the ground — what changed, who it affects, and what comes next for one of the more closely watched state programs in the country.We'll also get into:Brazil's opening cannabis market — the regulatory frameworks, foreign capital flooding in, and why local partnerships are everythingIndiana's Republican push for medical cannabis in 2027 — and how Trump's rescheduling move is giving political cover to fence-sittersThe East Coast Eighth Index — four of five tracked states hit all-time pricing lows in May, and price convergence is accelerating across the regionEarnings season recap — what we learned (and didn't) from a busy week of cannabis financials, including our conversation with Cronos Group CEO Mike GorensteinThis Week in Cannabis News is produced by Cultivated, your daily source for cannabis industry intelligence. Subscribe at https://cultivated.news.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.

May 15, 2026Episode 13752 min

#137 - The $11B THC Beverage Roadmap with Jason Zelinski (NielsenIQ)

Is the "Christmas of BevAl" about to change forever? While federal policy looms like a shadow, the world’s largest retailers and data giants are leaning into a category that is proving to be 100% incremental to the bottom line.About This Episode: In this episode, Ben Larson and AnnaRae Grabstein dive deep into the numbers with Jason Zelinski, VP of North American Retail at NielsenIQ. As one of the most prominent voices translating THC beverage performance for mainstream retail, Jason shares exclusive insights into why Target is expanding its hemp-derived drink program and how data is finally legitimizing the cannabis-adjacent market.What You’ll Learn:The "Target" Strategy: Why a $107B retailer is expanding into 300+ stores just six months before a potential federal ban.The Incrementality Argument: Proof that THC beverages aren't just "robbing Peter to pay Paul" but are actually bringing net-new customers to retail.The $11 Billion Prediction: Jason breaks down the "back of the napkin" math on how big this category could truly become with full distribution.Consumer Trends: Why 10mg is becoming the new "sweet spot" for shoppers and why soda is the leading form factor for new adopters.Meet the Guest:Jason Zelinski is the VP of North American Retail at NielsenIQ. With two decades of experience at the intersection of retail and data—including a ten-year tenure in merchandise operations at Walmart and Sam’s Club—Jason has become a critical bridge between the emerging THC market and traditional CPG. He is a leading expert on how grocery, convenience, and mass-market channels are adapting to the explosion of hemp-derived beverages.Why Tune In?If you are an operator or investor, this is the data-backed roadmap you’ve been waiting for. Learn how to speak the language of "Category Management" to get your products on mainstream shelves and understand the critical benchmarks for the industry as we head toward the 2026 "July 4th Christmas."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.

May 6, 2026Episode 1361 hr 1 min

#136 - Rescheduling Financial Deep Dive with Gail Rand & Michael Harlow

The DEA has finally spoken, but the path forward for cannabis operators is far from simple. As we move into a post-rescheduling world, the industry is bracing for a complex, bifurcated future that could redefine winners and losers overnight.About This Episode: On this episode of High Spirits, hosts Ben & AnnaRae go deep into the technical and human sides of the rescheduling order with two of the industry’s sharpest minds: Gail Rand (Founder of Grand Consulting) and Michael Harlow (National Cannabis Lead at CohnReznick). We explore the potential for retroactive 280E relief, the looming battle for market share, and why your business fundamentals matter more now than ever before.💡 What You’ll Learn:The 280E Retroactivity Debate: Can operators actually expect tax refunds for prior years, and how should you be planning your cash flow today?The Bifurcation Challenge: Why the industry might split into distinct Medical vs. Adult Use silos and what that means for your licensing strategy.M&A and the Horizontal Shift: How the move toward Schedule III could trigger a wave of consolidation and a departure from the traditional vertical integration model.Operational Readiness: Why "cleaning up your books" is the most critical move you can make while waiting for federal agencies to harmonize their rules.🌟 Meet the Guests:Gail Rand is a CPA and the Founder of Grand Consulting, bringing over 30 years of finance expertise to the industry. Her journey began as a patient advocate, helping pass Maryland’s medical cannabis legislation to secure access for her son, and she eventually became the CFO of the state’s first cultivation licensee.Michael Harlow is the Managing Partner of CohnReznick’s DC Metro office and leads the firm’s National Cannabis Practice. With a decade of experience advising everyone from single-site dispensaries to the largest MSOs, Michael is a preeminent expert on the tax, accounting, and regulatory hurdles facing cannabis businesses.📅 Why Tune In?If you are an operator or investor trying to make sense of the "gobbledygook" of federal policy, this conversation provides the roadmap you need. Ben & AnnaRae cut through the noise to help you understand how to protect your margins and position your business for the next era of American cannabis.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.

May 4, 202624 min

TWICL ( May 1, 2026) - Cannabis Rescheduling: What We Still Don't Know

It's been one week since cannabis rescheduling to Schedule III was announced — and the questions keep multiplying. Jay Rosenthal, Marc Hauser, and Ben Larson unpack the real-world implications for operators, lawyers, accountants, and states navigating this seismic shift.In this episode:The DEA registration question: does it matter for 280E relief?The "Schrödinger's Cannabis" problem — how the same product can be Schedule I and Schedule III simultaneouslyState-level ripple effects: South Carolina, Nevada, Indiana, Texas, and moreThe 60-day application window and what it means (or doesn't)Congressional pushback: an appropriations bill that could defund rescheduling?Political dynamics: Trump, Kim Rivers, and the hemp connection4/20 data: pre-rolls dominate, infused pre-rolls surge nationallyPlus clips from Mike Feldman (NABIS General Counsel) and Rick Bashkoff (Lit Alerts) on what rescheduling means operationally and at retail.Hosts:Jay Rosenthal, CultivatedMarc Hauser, Cannabis MusingsBen Larson, High SpiritsStreamed live May 1, 2026Join us every Friday at 12PM ET / 9AM PT🔔 Subscribe for weekly cannabis industry analysis, news, and live conversations.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.

April 29, 2026Episode 1351 hr 5 min

#135 - The Rescheduling Order: A Legal Deep Dive

Is it time to get giddy or stay skeptical? The federal rescheduling of cannabis is the biggest regulatory shift in decades, but it comes with a complex web of DEA registrations and international treaty considerations. Join Ben Larson and AnnaRae Grabstein as they sit down with top legal minds Alyssa Samuel (Husch Blackwell), Eric Berlin (Dentons), and Michael Cooper (Madison J Solutions) to unpack what happens when the DEA portal opens and how you can position your business to be a winner in this new era.💡 What You’ll Learn:The DEA Registration Roadmap: How the new 60-day registration window works and why being "deemed compliant" is the first step toward federal legality.The Interstate Commerce Conflict: Will Schedule III trigger the Dormant Commerce Clause and finally break down the "closed-loop" state systems?Banking & Capital Markets: Why Schedule III status could be the "mic drop" moment for NASDAQ listings, SBA loans, and institutional investment.The Future of Adult-Use: The legal hurdles involving international drug treaties and the upcoming June hearing that could decide the fate of recreational markets.🌟 Meet the Guests:Alyssa Samuel: An attorney at Husch Blackwell with over a decade of experience in the Colorado and multi-state markets, specializing in complex regulatory compliance.Eric Berlin: Lead of the US and Global cannabis sector at Dentons, the world’s largest law firm, bringing 18 years of specialized cannabis legal expertise.Michael Cooper: Founder of MadisonJay Solutions and Chair of Policy for the NCIA, Michael is a leading voice in regulatory strategy for cannabinoids and spirits.📅 Why Tune In?The "Knife Fight" for survival just got a lot more technical. If you are a cannabis operator, investor, or policy wonk, this episode provides the direct legal clarity you need to navigate the next six months of federal transition without falling for industry misinformation.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.

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