TGIF Cannabis Investors! Is marijuana banking reform a back door for money laundering “cartel cash”? Some Senators sure seem to think so.

Plus, catch the early bird discount to our Benzinga Market Spotlight: New Jersey - Cannabis on Monday, June 17th.

Also, check out the newest episode of Cannabis Insider, also available on Apple and Spotify.

Puff Pass: Did someone forward you this email? Click here to get automatically subscribed.

TOP STORY

New Tax Rules In Cannabis: What Are The Consequences DEA Rescheduling?

Briefly: Marijuana rescheduling slashes tax burdens significantly, enhancing cash flow and financial health for cannabis businesses nationwide.

Historically: Hindered by the punitive Section 280E of the IRS code, which prevented businesses dealing with federally illegal substances from deducting business expenses, the cannabis industry faced an excessive tax burden.

Specifically: Economics concluded that the industry paid $1.8 billion in excess taxes due to IRS restrictions in 2022.

What Now: This shift in cash flow is expected to significantly enhance company balance sheets and improve the overall financial health of the sector.

What Next: Companies that were profitable on paper but financially constrained will likely see marked improvements in their financial statements.

Read more here.

PRESENTED BY MASTERWORKS

2478 everyday investors shared $1,123,615 net profit on a Monet

Now you might be thinking: “what the heck are you talking about?” But keep reading, because this investment platform's users are already smiling all the way to the bank. Thanks to Masterworks, the award winning platform for investing in blue-chip art.

Every single one of Masterworks’ 16 sales has returned a profit to investors, for a 100% positive net return track record. With 3 recent sales, Masterworks investors realized net annualized returns of 17.6%, 21.5% and 35%.

How does it work? Simple, Masterworks does all of the heavy lifting like finding the painting, buying it, storing it, and eventually selling it. It files each offering with the SEC so that nearly anyone can invest in highly coveted artworks for just a fraction of the price of the entire piece.

Shares of every offering are limited, but Cannabis Daily readers can skip the waitlist to join with this exclusive link.

Skip the waitlist.

Past performance is not indicative of future returns, investing involves risk. See disclosures masterworks.com/cd

ZINGERS

Canadian Giant SNDL Speeds Up Acquisition Of Majority Positions In Two U.S. Cannabis Companies As Marijuana Rescheduling Looms

Florida Ballot Battles: Voter Decision On Cannabis And Abortion Amendments Could Be Challenged By Lawmakers

InterCure Reports Strong FY2023: Performance Paves the Way for Global Expansion

Teamsters Unionize Cannabis Workers At Another Cresco Labs' Dispensary In Illinois, 'It Feels Good'

Ric Flair's Drip Cannabis Products Hit Shelves In Michigan Via Collab With Goldkine, Here Is Where To Find Them

ONE MORE FOR THE ROAD

Are Hemp-THC Beverages Competing With Alcohol?

Briefly: THC beverages outperform wine and vodka, signaling a major shift in consumer preferences.

What Happened: A discussion at the recent Benzinga Cannabis Capital Conference in Florida opened with a question about the most exciting developments in social cannabis consumption. The response was unanimous: “Beverages.”

Specifically: "We are hearing reports from other retailers saying that THC beverages are outselling any single varietals of wine, outselling vodka. Those are big numbers," Cannabis Beverage CEO Diana Eberlein pointed out.

Why It Matters: In the industry, the debate rages on about whether cannabis legalization will cannibalize alcohol sales. But with THC beverages on the rise, bar sales could be bolstered even as alcohol consumption declines.

Click here to read more.

KEEP READING

Before you go, be sure to subscribe to our other newsletters:

Ring The Bell: If you have to pick just one daily financial newsletter, it’s not a choice. Subscribe here.

The Street Sheet: A Wall Street cheat sheet, delivered every Sunday directly to your inbox. One-click subscribe here.

Future Finance: TradFi is tired. Wake up to the future of finance with this midday fintech and crypto letter. Subscribe here.

The Flag: Top takes from Washington to Wall Street impacting policy and your portfolio. One-click subscribe here.