May 26, 2026

Chicago Atlantic BDC, Inc. (NASDAQ: LIEN) Hits Record Income | Trade to Black – The Dales Report

In our latest Trade To Black Podcast, hosts Shadd Dales and Anthony Varrell sit down with Chicago Atlantic Managing Partner, Peter Sack, to discuss why cannabis capital markets may finally be entering a major turning point.

Chicago Atlantic BDC Inc. (Nasdaq: LIEN) just posted $10 million in net investment income and has deployed substantial capital across the cannabis industry. Peter explains why stronger operators are beginning to separate themselves from the pack and why institutional investors are quietly paying closer attention to cannabis again.

The episode also focuses heavily on federal reform momentum following medical cannabis moving to Schedule III, the upcoming DEA hearings surrounding adult-use cannabis, and why Peter now believes the industry has moved beyond “cautiously optimistic” territory.

Shadd and Anthony also discuss cannabis uplisting potential, banking reform, retail consolidation, M&A activity, and why the next phase of cannabis growth could look completely different from the last five years.