Research
Our research explores how cannabinoids are changing consumer markets, distribution economics, and the regulatory landscape. We publish through Delta Dispatch (an invite-only written publication) and a public podcast featuring conversations with industry executives, regulators, and analysts.
Below is a selection of our strongest existing work. Some entries are publicly available; others require a Dispatch subscription.
Featured Research
The Fourth Category: THC Beverages Inside Alcohol's Infrastructure
Alcohol consumption is declining across every adult age group in the United States. Gallup surveys show the share of U.S. adults who drink dropped from 65% to 59% between 2019 and 2024.
THC beverages are arriving inside alcohol's existing distribution system. Target launched THC drinks across 300+ stores in 2026. Boston Beer's CEO told Wall Street the company is "locked and loaded." Beer distributors are adding THC products to route trucks.
We believe this represents a structural shift. THC beverages are their own category, growing from zero inside the infrastructure beer distributors built. Our research tracks who is moving, what the economics look like, and which regulatory models are winning.
Analysis | Ongoing | Select public pieces below; full coverage requires Dispatch access
Selected Work
Conversations (Public Podcast)
| Title | Guest(s) | Date |
|---|---|---|
| From Prohibition to Probation | Paul Weaver (Boston Beer), Lisa Jacobson | May 2026 |
| Together We Are Heavy | Bart Watson (Brewers Association) | Jun 2026 |
| The Sober Gen Z Myth | — | Jun 2026 |
In the Press
Cultivated: VCs and PE Investors Fueling the THC Beverage Boom (June 2025)
Ian quoted on THC beverage market size and growth trajectory
Conference Appearances
IgniteIt Cannabis Capital Conference, Chicago (June 2026)
"How Alcohol Enters Hemp Beverages," presented by CannaBev Summit
THC Beverages Focus
For our concentrated research on THC beverages: THC Beverage Research →