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Good morning everyone! Patricio Liddle here. Big things are happening this week as the Benzinga Cannabis Capital Conference kicks off in Chicago! In today’s edition, we’ll talk about industry leaders like Curaleaf and MariMed CEOs sharing insights at the conference, plus the latest on New Jersey and Florida’s hemp battles, and AFC Gamma hitting a huge $100M milestone.

But before we get started, I just wanted to take a moment to sincerely thank you for reading and supporting this content. Your trust in this newsletter means a lot to us. Let’s jump right in!

Cannabis CEOs Speak At Benzinga Chicago Conference

Curaleaf and MariMed are set to report their Q3 earnings on November 6th. Both companies have been making waves—Curaleaf with its leadership change and MariMed expanding its footprint. Lucky for us, their CEOs, Boris Jordan and Jon Levine, will be speaking today at the Benzinga Cannabis Capital Conference in Chicago.

Speaking of the conference, it's the place to be for all things cannabis. From emerging market trends and investment strategies to crucial discussions about regulation and social equity, the Benzinga Cannabis Conference is where key players connect and share insights on how they are shaping the industry. All this and more will be discussed today and tomorrow—stay tuned!

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AFC Gamma’s $100M Milestone, Rubicon’s Slashed Emissions

AFC Gamma recently crossed the $100M mark in new originations, funding a $41M credit facility for Story of Maryland, LLC, a vertically integrated cannabis operator. This highlights the growing investment opportunities in cannabis lending, as AFC continues to support scaling operations in the sector.

Meanwhile, Rubicon Organics is setting a new standard in sustainability, cutting its carbon footprint by 48% in 2023. Their latest ESG report also reveals a strong focus on diversity, with 83% of their workforce coming from underrepresented groups and women earning 33% more than men.

Hemp Wars: It’s New Jersey & Florida’s Turn Now

Hemp companies in New Jersey are suing the state over strict new regulations that limit the sale of hemp-derived products like Delta-8 THC. They argue that these rules violate the 2018 Farm Bill and could force many businesses to close by the October 12 deadline. 

Moreover, in Florida, experts are linking the state's legalization efforts to monopolistic goals. Industry leaders claim that big cannabis companies are pushing for market domination at the expense of smaller hemp operators. Conversely, Gov. Ron DeSantis is under heavy fire for using taxpayer money to fund anti-cannabis ads ahead of the November vote on Amendment 3. Weed out the competition, DeSantis and big cannabis said.

As hemp markets grow, the fight for fair regulation is heating up, with big players eyeing control and smaller ones fighting to survive.

Will Biden's Cannabis Legacy End In Broken Promises?

It’s been two years since President Biden announced pardons for federal cannabis offenses, but here we are, still waiting. Despite the big headlines, around 3,000 people remain behind bars for weed-related charges. The Last Prisoner Project is urging Biden to act before his term ends, launching the #Countdown4Clemency campaign.

With 72% of voters backing clemency, it's a crowd-pleaser. Even Trump and Harris are chiming in on cannabis legalization. With time running out, will Biden leave office with unfinished business, or will he finally make good on his promise?

Stories In The Spotlight:

• Two Cannabis Power Houses Team Up: Tilray Brings CBD Gummies From US Medical Marijuana Pioneer To Canada

• Cannabinoids Show Promising Anti-Cancer Potential Yet Mechanisms Remain Unclear, New Study

• Could Psilocybin Be A Game-Changer For Millions Battling Depression? New Study Says Yes

• Germany's Most Populous State Approves First Cannabis Cultivation Application

• Malta Considers Safe Cannabis Consumption Places, New Legal Forms Of Marijuana And Bans HHC Products

Our Writer Today

Patricio is a development economist with extensive experience in IT, finance, and banking. He writes about the economic and social opportunities obscured by over fifty years of drug prohibition. Beyond his professional expertise, Patricio is a committed advocate for social change, passionately working to promote harm reduction and reform drug policies.

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