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Articles by Chris Casacchia
DigitalMint's former employees ran $75 million cyber scam. Now, River North agency looks to have relaunched Original
A River North cybersecurity firm seems to have started another business in the wake of a scandal involving two former employees and an associate who extorted tens of millions of dollars from customers. The parent company of DigitalMint created a new website under Chaintrax Cyber, offering cybersecurity services to businesses, including negotiating ransomware cryptocurrency settlements, threat response and decryption. Documents filed Aug.
Rescheduling could revive cannabis M&A. Here’s what could get in the way.
Rescheduling could revive cannabis M&A. Here’s what could get in the way. Dealmakers see a catalyst in Schedule III. A new DEA delay and a buyer’s market could slow it down.
Ticket prices are soaring for White Sox home playoff game Original
If White Sox fans want to walk through the gates at Rate Field on Wednesday, they’ll need to get their hands on the priciest ticket in the divisional series round, according to several national ticket broker sites.
Illinois cannabis operators score major wins in regulatory overhaul
Illinois cannabis operators score major wins in regulatory overhaul The state’s new rules expand medical access, cut security costs and loosen restrictions for cannabis retailers.
First hockey, now baseball: FutureSports deal with MLB will let fans bet on teams Original
Chicago startup FutureSports is expanding the opportunity for traders and fans to take monetary positions on sports, in a new deal with MLB. FutureSports said Monday it will establish financial indexes based on the performance of the Cubs, White Sox and 28 other teams in the league using in-game statistics provided by MLB. The futures contracts will be offered by Loop-based CME Group, which operates the world’s largest derivatives exchange.
Loop company's bid to buy Arizona bank would spike predatory lending, consumer advocacy groups argue Original
We break down complex business news to help you understand how money moves in Chicago and how it affects you. Consumer advocacy groups and the state’s top law enforcement official are opposing a Chicago company’s plan to obtain a national bank charter — arguing the move would allow it to lock customers into loans at more than 100% interest rate.
Kentucky’s medical cannabis market is open. But patients are slow to arrive.
Kentucky’s fledgling medical cannabis market faces high prices, limited product and a shortage of cultivators and processors. Strict regulations and a cumbersome patient-registration process are slowing enrollment, with only about 23,000 patients registered. A widely available hemp-THC market offers consumers a cheaper, more accessible alternative, threatening medical cannabis growth. The growth of Kentucky’s emerging medical cannabis market is facing some unique challenges out of the gate.
Chicago startup's NHL deal creates new way to bet on sports teams' performance
Futures exchange: Understanding what it is and how it works What is a futures exchange? A futures exchange is a marketplace where traders can buy and sell contracts of an asset at a predetermined price on a future date. It allows participants to manage risks such as price swings associated with financial or agricultural products. And some trade futures to speculate on price movements.
Judge orders CA to fix broken track-and-trace system ⚖️
Good morning and happy Monday. In today’s newsletter, Chris brings you a dispatch from a Catalyst CEO Elliot Lewis’ legal victory against the state of California. That, and Sen. Budd’s amendment to strip the one-month delay on hemp-derived THC from the federal funding bill gets shot down in a late-night showdown. Let’s get to it. -JB, JR, CC Today’s newsletter is 1,230 words or about a 10-minute read. THIS NEWSLETTER MADE POSSIBLE BY: 💡What’s the big deal?
Fillmore Linen Service brings jobs and opportunity to North Lawndale
Ron Vann has spent nearly a third of his life behind bars. The 58-year-old’s lengthy record of drug trafficking offenses have been a red flag for prospective employers his entire adult life. Two years ago, he applied for a job at Fillmore Linen Service, a commercial laundry in North Lawndale serving the healthcare industry. The facility at 4100 W. Fillmore St. makes up a portion of the 168,000-square-foot Fillmore Center.
Wrigleyville bar plans to give fans $100 if Mexico wins World Cup match, with help from Kalshi Original
We break down complex business news to help you understand how money moves in Chicago and how it affects you. A Wrigleyville sports bar is running a promotion on Sunday with prediction marketplace Kalshi that will reward patrons with $100 gift cards and tequila shot specials if Mexico defeats England in the highly-anticipated World Cup match.
'I've invested my life savings': Hemp farmers scramble before November ban
Farmers are buying fewer clones and scaling back planting ahead of the November 12 federal ban Kentucky hemp prices have collapsed from $40 a pound in 2016 to $2 to $3 today Synthetic cannabinoids are undercutting legitimate growers, forcing some to auction equipment and exit entirely Hemp farmers across the country like Jammie Treadwell are facing a serious dilemma this grow season as a looming federal ban on most hemp-derived consumer products takes effect November 12.
Hemp Beverage Expo opens amid industry uncertainty🥤
Good morning. Never a dull moment in cannabis: Virginia Gov. Abigail Spanberger reached a deal with lawmakers to open retail sales next year. Plus, join us tomorrow for a webinar with our friends at Azuca: From chef's vision to cannabis infrastructure: How Azuca built the edibles category consumers want. Register to join on LinkedIn » Let’s get to it. -JR, JB Today’s newsletter is 1,083 words or about a 7.5-minute read. 💡What’s the big deal?
Angel Reese listing Lemont home for $1.45 million, two months after Sky trade
Former Sky forward and first-round draft pick Angel Reese is planning to sell her Lemont home for $1.45 million. The property is expected to hit the market on Monday, according to listing details on Redfin. This comes roughly two months after the two-time WNBA All-Star was traded to the Dream, in a deal that included the Dream’s first-round draft picks in 2027 and 2028. The teams will also swap second-round picks in 2028.
Angel Reese listing Lemont home for $1.45 million, two months after Sky trade
Worst to first: Ranking NFL's most likely turnarounds in 2026 Since the NFL realigned to eight four-team divisions in 2002, more than two dozen teams have gone from worst in their division standings to ranked …
How Munetaka Murakami is teeing up business for White Sox and Chicago companies
White Sox rookie sensation Munetaka Murakami is ushering in “Mune mania” throughout Chicago — teeing up new business opportunities for the city’s small businesses and the team, from new offerings like Japanese-inspired hot dogs and rice lagers to custom jerseys. “As soon as we signed him we changed our thinking and moved our ticket sales targets up because we anticipated him bringing in more interest,” Sox chief revenue and marketing officer Brooks Boyer said.
How Munetaka Murakami is teeing up business for White Sox and Chicago companies
White Sox rookie sensation Munetaka Murakami is ushering in “Mune mania” throughout Chicago — teeing up new business opportunities for the city’s small businesses and the team, from new offerings like Japanese-inspired hot dogs and rice lagers to custom jerseys. “As soon as we signed him we changed our thinking and moved our ticket sales targets up because we anticipated him bringing in more interest,” Sox chief revenue and marketing officer Brooks Boyer said.
DEA opens door to cannabis growers, labs, and manufacturers
The U.S. Drug Enforcement Administration will soon start accepting applications for a variety of plant-touching businesses beyond dispensaries as part of the federal government’s seismic policy shift to reschedule medical cannabis to a Schedule III drug. The application window, according to the DEA’s Diversion Control Division website, will open “in the coming weeks” for MMJ manufactures, growers, testing labs and distributors.
Redadas de inmigración alteran la industria de la construcción en Chicago en medio de escasez de trabajadores Original
El mejor lugar para cobertura de noticias y cultura latina en Chicago. Los proyectos residenciales en Chicago están siendo pospuestos porque las empresas de construcción están navegando para encontrar mano de obra confiable, lo que ha llevado a algunos contratistas con proyectos al oeste de la Interestatal 355 a operar con equipos más reducidos y a aumentar los sueldos por día y el pago de tiempo extras para atraer trabajadores.
Immigration raids upending Chicago's construction industry amid worker shortage, higher costs
Residential projects across Chicago are being postponed because construction companies are struggling to find reliable labor, prompting some contractors with projects west of Interstate 355 to operate with leaner crews and driving up day rates and overtime pay to attract workers. President Donald Trump’s immigration enforcement has been affecting Chicago’s labor market, notably tradesmen like roofers, framers, concrete layers and landscapers.
Energy price challenges continue for cannabis companies
Good morning. Happy 4/20 to all those who celebrate. It’s remarkable how, since legalization spread around the U.S. and Canada, April 20 has become one of the most easily recognizable commercial holidays in the world. Let’s get to it. -JB, JR Today’s newsletter is 645 words or about a 5-minute read.
‘It feels like playing a video game when the level of difficulty just increases’: Cannabis companies adjust to record spike in oil prices
Cannabis California distributor Nabis is projecting $2 million in fuel costs this year, up 60% from 2025, and says it'll shoulder the burden for now given its scale A Denver delivery operator just shut down, citing gas prices as the final straw on top of payroll and insurance costs Logistics providers warn that vendor quotes are expiring within days, forcing companies to plan and ship earlier just to stay ahead Cannabis companies and ancillary businesses are facing new economic challenges as...
March Madness gets fans, alumni packing the room at Chicago's sports bars
Sports pubs were slammed over the weekend with hoops fans swept up in March Madness — a welcomed business bump amid challenging times for the hospitality industry. Venues with affiliations and partnerships with Big Ten schools fared even better, leveraging a deep roster of local alumni and other Midwest transplants. It also helped that the 18-team megaconference, headquartered in Rosemont, had four schools advance to the Elite Eight and two to the Final Four.
The vibes are back: Hall of Flowers points to a California cannabis rebound
Hall of Flowers draws its most optimistic crowd in years, a stark reversal from the survival-mode sentiment that dominated September's show. Established brands are pulling back from booths as newer entrants rush in to fill the space and forge deals. Cultivated’s Chris Casacchia spoke with dozens of brands, retailers, and industry insiders on the floor. Ventura, CA: What a difference six months makes.
California's new DCC Director inherits a tough hand. He says he has a plan.
Legal cannabis captures just 40% of California sales, with an estimated $5.8 billion flowing through the illicit market last year. New DCC Director Clint Kellum is pursuing a four-part strategy to fix it: licensing compliance, illicit market enforcement, consumer education, and regulatory burden reduction. Kellum also addressed pesticide testing, hemp integration, and the agency's ongoing effort to improve industry transparency. California Department of Cannabis Control Director Clint Kellum.
Congress passed Trump's sweeping tax bill. Here's how it'll affect your returns Original
The passage of President Donald Trump’s massive tax and spending bill last year carries vast implications for Illinois taxpayers, with scorekeepers saying the wealthiest filers are likely to reap the most benefits. The bill, often called the One Big Beautiful Bill Act, was signed into law July 2025 and made permanent several provisions in Trump’s old Tax Cuts and Jobs Act, which expired Dec. 31, 2025.
Teachers could qualify for new tax breaks in 2026 Original
Teachers who spend their own money on classroom supplies and other learning materials could earn a larger tax break, starting this year. But they’ll also face a heavier burden to track and report those expenses, which could affect the resources teachers bring into their classroom, particularly in underserved areas, experts warned. Changes to the educator expense deduction were made under President Donald Trump’s wide-ranging tax and spending bill, known as the One Big Beautiful Bill Act.
Teachers could qualify for new tax breaks in 2026
22 hours ago The One Big Beautiful Bill Act made significant changes in the tax benefits of charitable giving. The changes take effect in 2026 and should be considered in both long-term and short-term charitable giving. The changes increase charitable gift tax benefits for some taxpayers and reduce tax benefits …
Own crypto? Be prepared to report the digital assets to the IRS Original
The federal government is expanding tax reporting requirements and guidance for cryptocurrency brokers and exchanges like Coinbase and Kraken, amid an explosion of digital currency trading and asset diversification. That means more filing scrutiny and transparency requirements for some Illinois taxpayers. Illinois is one of the nation’s largest holders of digital currencies, ranking No. 8 among states with the largest average value of crypto owned per holder, according to Coinbase.
New tax laws could put strain on gamblers, making them pay taxes on money they didn’t earn
Some key provisions in President Donald Trump’s so-called One, Big, Beautiful Bill Act will impact gamblers and potentially the state’s growing gaming industry. Starting Jan. 1, players were capped at deducting 90% of their gambling losses up to the amount of their winnings. This means the remaining 10% is taxed even if total losses exceed or equal winnings — a sharp departure from previous years and a change that’s gained bipartisan pushback.
🧳 Why industry pros are leaving cannabis | Cultivated
Good morning. In today’s, we’ve got a great story from Chris Casacchiaon why many longtime industry execs are moving on from the industry. Read an excerpt below. Plus, join us at Noon Eastern for This Week in Cannabis Live with our friends from High Spirits and Cannabis Musings. Tune in on LinkedIn and YouTube. Let’s get to it. -JB, JR, ZH Today’s newsletter is 786 words or about a 6-minute read. 💡What’s the big deal?
'I don’t plan on ever going back': Why industry pros are leaving cannabis
Chris LaPorte racked up personal debt trying to usher in a new era of consumption venues in Las Vegas. Retail burnout led Lilach Mazor Power to seek an exit in Arizona. After years in national sales roles, Nigel Despinasse’s career hit a brick wall. These first movers and countless others are part of a growing contingent of longtime industry pros leaving the cannabis sector. There’s a host of reasons for the exodus, but new business opportunities and peace of mind are a common theme.
'It's been a nightmare': New York’s Metrc rollout sparks lawsuit as cannabis operators warn of supply chain chaos
More than a dozen New York cannabis operators and vendors are lining up to join a lawsuit challenging the state’s Metrc track-and-trace rollout, arguing the new requirements are unlawful, costly, and disrupting the supply chain. Licensees say Metrc integration glitches, mandatory item-level tagging, and a New York–only 10-cent per tag surcharge have led to inventory backlogs, missed payroll, delayed product launches, and millions in added costs.
Ticket demand high for Rams-Bears, but cold weather appears to be bringing down prices Original
Tickets on the secondary market for the Chicago Bears’ NFL divisional playoff game against the Los Angeles Rams on Sunday are generating far less demand than last week’s instant classic against the rival Green Bay Packers. Still, the cheapest seat at Soldier Field will set you back more than $400, as of Friday afternoon. That’s a similar price point as last Saturday’s Packers game, and down from more than $500 on Tuesday.
Ticket demand high for Rams-Bears, but cold weather appears to be bringing down prices
The buzz around the Chicago Bulls continues to increase as the trade deadline approaches. The team reportedly has a number of players it’s looking to …
Ticket demand high for Bears vs. Rams game but cold weather could bring down prices
Tickets on the secondary market for the Chicago Bears and Los Angeles Rams divisional playoff game Sunday are generating far less demand than Saturday night’s instant classic against the rival Green Bay Packers. Still, the cheapest seat at Soldier Field will still set you back more than $500.
Looking for a ticket to the Bears-Packers matchup? Get ready to pay up. Original
Ticket prices are heating up for Saturday night’s prized playoff game between the Chicago Bears and the Green Bay Packers — the cheapest price for a single ticket is about $400. Online ticket exchanges are predicting it will set the benchmark for record prices for a wild card game, as several factors prop up the market. The Bears and Packers rivalry is among the oldest in the league.
Rare Blackhawk bourbon sold for over $70,000 thanks to a Ravenswood auction house
A rare bottle of bourbon — with deep ties to the Chicago Blackhawks, the Wirtz family and historic distillers — sold last month for $71,375 through Ravenswood-based auction house Unicorn Auctions. But it wasn’t even the priciest transaction for the rare spirit. Two prior auctions of the Very Very Old Fitzgerald 18 Year bourbon fetched for $106,500 in October and $100,125 in May 2024, amounts that include taxes and buyers’ premium.
Bears merch flying off the shelves at sports collectible shops ahead of playoffs Original
Collectible card stores and sports memorabilia dealers are cashing in on the Chicago Bears success on the field this year. At Elite Sports Cards and Comics, the inventory of available Bears player cards, autographs, jerseys and other products has decreased by 50% over the last few weeks. The retailer has two locations, and its Dunning store, at 3406 N. Harlem Ave., is nearly sold out of Bears-related merchandise , prompting a restock.
A federal ban is coming. Hemp brands are on the clock to find a resolution.
Congress’ surprise hemp ban in the government funding bill sets a one-year countdown before most consumer hemp products become illegal, sending shockwaves through a multibillion-dollar market. Brands, investors, and lobbyists are mobilizing as THC beverage sales surge, but divisions between small suppliers, large beverage players, and licensed cannabis operators are shaping very different responses to the ban.
Inside the Omnium scandal rocking New York’s cannabis industry
Omnium Canna is at the center of a product inversion scandal in New York, with the OCM issuing a statewide product recall on items linked to the company. The recall follows allegations that Omnium leased its facility to unlicensed brands, distributing unregulated cannabis products, leading to the potential revocation of its licenses. The scandal has caused significant sales losses for affiliated brands like Stiiizy and Mfused, with Grön considering legal action against New York regulators.
Chicago jewelers enter new era as gold prices surge to record highs above $4,000
Gold prices hit a record this past week, and the new gold rush is electrifying the jewelry industry and commodity markets — creating an unprecedented era for Chicago retailers, consumers and traders. The market is so hot a customer at Stanley Brown Jewelist in Lincoln Square recently made a few thousands dollars from scrapped gold pieces, unused after their custom redesigned ring was finished, owner Shauna Hunter said. “I ended up writing her a check for $2,000,” Hunter said.
Chicago jewelers enter new era as gold prices surge to record highs above $4,000 Original
Gold prices hit a record this week and the new gold rush is electrifying the jewelry industry and commodity markets — creating an unprecedented era for Chicago retailers, consumers and traders. The market is so hot a customer at Stanley Brown Jewelist in Lincoln Square recently made a few thousands dollars from scrapped gold pieces, unused after their custom redesigned ring was finished, owner Shauna Hunter said. “I ended up writing her a check for $2,000,” Hunter said.
High Tide dropped €26M in Germany and it’s setting off a ‘new wave’ of M&A
High Tide’s €26.4M majority stake in German importer Remexian Pharma marks the start of a new wave of cannabis M&A as North American investors target Europe’s most advanced market. Germany’s medical cannabis sector is maturing fast, with patient counts rising, prescriptions becoming normalized, and infrastructure catching up to demand. “This is a new M&A run we will see in Germany over the next year,” said Bloomwell CEO Niklas Kouparanis. This story is 958 words or about a 7-minute read.
The sudden cancellation of a cannabis trade show might spell trouble for industry events
NECANN canceled its first Rochester, New York trade show less than two weeks before it was scheduled because exhibitor and attendee sign-ups were too slow. Brands are cutting back on expensive booths as travel and setup costs often top fifty thousand dollars and the fall calendar is packed with competing cannabis events. The cancellation shows how tighter budgets and post-COVID habits are making it harder for regional cannabis trade shows to attract enough participants.
Revolution Brewing's latest venture shows demand for THC-infused drinks still strong amid slowing beer sales
Chicago’s largest independent craft brewer, Revolution Brewing, is the latest to hop on the THC beverage boom, a signal that the emerging category still has plenty of buzz. The company recently launched Reverb Splash, a line of hemp-derived THC and CBD-infused sparkling waters with fruit. The drinks have 5 milligrams of THC and CBD, and they’re attracting a diverse fandom, from longtime brewery patrons and the curious to cannabis enthusiasts and alcohol abstainers.
Survival is the name of the game at this year's Hall of Flowers
Hall of Flowers drew hundreds of cannabis brands and retailers to Santa Rosa, even as the California market struggles. The show was smaller and quieter this year, with survival the main theme for many attendees. Despite the challenges, buyers and brands still used the event to strike deals and grow their businesses. This story is 932 words or about a 6-minute read.
Revolution Brewing's latest venture shows demand for THC-infused drinks still strong, amid slowing beer sales
Chicago’s largest independent craft brewer, Revolution Brewing, is the latest to hop on the THC beverage boom, a signal that the emerging category still has plenty of buzz. The company recently launched Reverb Splash, a line of hemp-derived THC and CBD-infused sparkling waters with fruit. The drinks have 5 milligrams of THC and CBD, and they’re attracting a diverse fandom, from longtime brewery patrons and the curious to cannabis enthusiasts and alcohol abstainers.
As Sundays on State returns, businesses say street festivals are a welcome boost Original
The Loop will host its annual arts and culture festival Sundays on State this weekend, closing off several blocks along State Street for pedestrians to shop and eat from more than 400 vendors and artists. The free event, also scheduled for Oct. 5, is a prime example of Chicago neighborhoods becoming more inclined to street closures over the years to jump-start economic development. The inaugural Meet Me On Milwaukee event that took place Aug.
Germany’s expanding medical cannabis market is a boon for Canadian companies
Canada leads Germany’s medical cannabis imports, supplying 43% of all dried flower in the first quarter of this year as demand surges following cannabis reform. Canadian producers are cashing in abroad, with companies like Organigram, Decibel, and Village Farms posting major gains — international sales more than doubled, and margins expanded significantly.
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