Happy Thursday Investors! Guess which TV show predicted marijuana would be packaged, taxed and sold right off the shelf?

Hint: It’s actually not The Simpsons.

Plus, California's Premier Cannabis Event: Benzinga's Market Spotlight is headed to the City of Angels! Learn more here.

And, 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

Elizabeth Warren Tells DEA 'To Join The 21st Century'

Briefly: Senator Elizabeth Warren (D-MA) urged the federal government to "join the 21st century" and deschedule marijuana during an appearance on The Late Show with Stephen Colbert.

So Basically: Colbert asked the senator the difference between descheduling and legalization.

So Then: He also asked, “Are you high right now?” so Colbert is evidently not exactly a cannabis industry expert.

So What? Luckily, he was sitting across from one. Warren, a longtime advocate, clarified, “Legalization is what you could do if you had a functional Congress. Well, that’s not the world we live in. So descheduling is something the administration could do without going to Congress.”

What Next: Watch the full interview here.

JOIN US IN CALIFORNIA

Join The Benzinga Cannabis Market Spotlight

This premier event, focused on high-impact networking, offers a chance to connect and create lasting business relationships.

Engage with top industry figures in structured sessions and casual mixers, turning each interaction into a potential business breakthrough.

It’s more than networking: it’s where the future of cannabis in California (and beyond) is shaped. Be part of the defining conversation.

Click here to join us!

FIVE ZINGERS

Biden administration official denies rumor that DEA is rescheduling cannabis anytime soon

New York battles illicit cannabis shops: Will regulatory tweaks trigger a market makeover?

NFL Champion, Heisman Winner Ricky Williams heads to Las Vegas for Super Bowl Cannabis Meet-And-Greet

NYC's Film Hub welcomes Freshly Baked NYC weed delivery, now serving Manhattan & Brooklyn

Minnesota Update: Salary for prospective cannabis czar, first municipally-run weed store, pot goes missing at Tribal Shop

ONE FOR THE ROAD

High Times In The USA

Briefly: A record number of Americans “partook” last year.

So Basically: In 2023, 17% of Americans said they smoked marijuana while 50% said they have "used" cannabis, according to Gallup's annual “Consumption Habits” survey — a new record.

So Then: The report found about a quarter of young adults between 18 and 34 say they smoke cannabis (26%), but reported use falls to 18% among adults aged 35 to 54 and is even lower (11%) among adults aged 55 and older.

So What? For the past two years, more U.S. adults have reported smoking cannabis rather than cigarettes. Young people are more than five times more likely to consume cannabis rather than tobacco.

What Next: Read the full survey results here.

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.

Benzinga Real Estate: End your week with a reality check for your real estate assets. One click-subscribe here.

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