Happy Thursday, Cannabis Investors! Switzerland is getting ready to welcome a new snack. Can it be better than Swiss Chocolate?

Plus, Elizabeth Warren said, “It's time to legalize marijuana nationwide.” Will it be huge for this stock?

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

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TOP STORY

Chuck Schumer: Senate Will 'Work Very Hard' To Pass Cannabis Banking Bill Before Upcoming Elections

Briefly: Senate Majority Leader Chuck Schumer underscored the importance of passing the Secure and Fair Enforcement Regulation, or SAFE Banking Act.

So Basically: Schumer called the SAFE Banking Act a policy priority his chamber will "work very hard" to enact ahead of the upcoming elections.

Back Up: Cannabis banking legislation was cleared by the Senate Banking Committee in September 2023. If brought to the Senate floor, the bill is expected to undergo amendments, potentially including provisions for state-legal cannabis expungements and gun rights for cannabis consumers.

What Next: Behind the scenes, negotiations on the cannabis legislation are advancing, with key lawmakers reportedly nearing a consensus.

So What? Want the real inside scoop? Former House Representative Ed Perlmutter, the original sponsor of the initial cannabis banking reform bill, will speak at Benzinga's upcoming Cannabis Capital Conference.

Click here to read more.

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FIVE ZINGERS

Psychedelics 2024: Veterans Blessing, mental health paradigm shift, providers training, Ketamine-MDMA Bonds and more.

Oklahoma weed products less potent than labels claim.

Canadian study links weed legalization to drop in alcohol sales.

New York cannabis retail gets game-changing boost: What's next?

Hawaii Senate approves cannabis legalization bill allowing home grow, tax structure and more.

ONE FOR THE ROAD

Unpacking The $58B Cannabis Market Boom, Forecasts For 2028

Briefly: Brendan Mitchel-Chesebro, an analyst at cannabis data company BDSA, revealed key drivers behind the cannabis industry's explosive growth.

So Basically: BDSA’s latest market forecast released yesterday heralds a new era of unprecedented growth in the global cannabis industry.

So Then: The forecast predicts legal sales to ascend to $58 billion by 2028 from $36 billion in 2023. This anticipated growth, characterized by a robust compound annual growth rate of 10%, is largely fueled by the expanding U.S. market.

So What? Emerging markets like New York and New Jersey are set to lead the industry's legal sales.

Click here to read more.

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KEEP READING

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