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Cannabis Economist Andrew Livingston Talks Tax Revenue, Hemp Beverages & Legal Reform on High Spirits Podcast

Jun 17, 2025

Vicente director of economics and market analysis Andrew Livingston joined the High Spirits: The Cannabis Business Podcast to discuss the ever-evolving landscape of cannabis and hemp regulation, focusing on the integration of hemp-derived THC beverages into existing alcohol distribution frameworks.

In the episode, titled “The Great Reshuffle: Hemp, Alcohol, and the Future of THC Access” Andrew offers insights into the economic and regulatory shifts affecting the future of the cannabis and hemp industries.

“What I do a lot is help people navigate the intricate patchwork of state laws…understanding market opportunities really requires understanding what you can and can't do in certain markets.”

Topics include:

  • $24.7 billion in cannabis tax revenue generated since adult-use legalization began

  • The "Three A's" for thriving cannabis markets: Accessibility, Affordability, and Assortment

  • The Texas decision to attempt modest medical cannabis expansion while simultaneously banning hemp-derived THC products

  • The "alcoholization" of hemp beverages that would involve integrating products into alcohol distribution systems while restricting direct-to-consumer sales

  • Federal court cases such as Canna Provisions v. Garland and their potential to influence federal cannabis reform

  • How the Farm Bill’s delay continues to fuel regulatory uncertainty for hemp businesses

  • Indigenous Tribal governments serve as an overlooked example of democracy, highlighting over 100 Tribal cannabis and hemp programs.

Andrew also discusses how upcoming federal and state decisions could open or restrict market access for THC products, and what that means for cannabis operators, investors, and policymakers.

Stream the full episode on highspirits.media, Apple, YouTube, or Spotify.

About Andrew Livingston

Andrew Livingston is the Director of Economics and Market Analysis at Vicente LLP, where he serves a unique role as an economist, business analyst, and general cannabis policy work. Mr. Livingston assists clients with developing and expanding their enterprises across cannabis markets nationally and internationally. A wide variety of marijuana and hemp businesses look to him for help navigating the regulatory intricacies that influence market dynamics, as well as to create sophisticated revenue models and pro forma for investors and to guide strategic decision-making. Learn more.

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Andrew Livingston, Economics & Research, Hemp & Cannabinoids, Hemp Beverages, Hemp-Derived Products, Hemp-Derived THC, Intoxicating Hemp, Podcast, Speaking Engagements, Texas