Happy Wednesday, Cannabis Investors! Turns out, the taste of forbidden fruit fizzles out once it’s no longer, well, forbidden. In states where cannabis is legal, a shocking number of U.S. teenagers are passing on marijuana.

Plus, check out our cannabis chart of the week. Are ancillary sectors participating in the rescheduling price upswing?

Also, want to win $5,000? Pitch your cannabis business and win thousands in prizes at the Benzinga and Curaleaf Competition.

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TOP STORY

From Amsterdam To California

Briefly: California lawmakers approve of legal Amsterdam-style cannabis cafes.

So Basically: Under the current California law, while consumers are allowed to consume use products at dispensaries, the sale of non-marijuana products like coffee or food is not allowed.

So Then: Proposed legislation would enable local jurisdiction to allow licensed cannabis retailers to make and sell non-cannabis food and nonalcoholic drinks, and the cafes to host live music and other performances.

So What? The idea behind the measure is to offer a fair shake to small cannabis businesses to compete with the illegal market. The black market has been thriving in California for years, making it harder for legal operators to stay afloat.

What Next: The bill was approved by members of the State Assembly. Gov. Gavin Newsom vetoed the previous version of the bill, but the new one has been amended to address the governor’s concerns.

Click here to read more.

PRESENTED BY MASTERWORKS

Billionaires wanted it, but 54,578 everyday investors got it first… and profited

When incredibly rare and valuable assets come up for sale, it's typically the wealthiest people that end up taking home an amazing investment. But not always…

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It's called Masterworks. Their nearly $1 billion collection includes works by greats like Banksy, Picasso, and Basquiat, all of which are collectively owned by everyday investors. When Masterworks sells a painting – like the 16 it's already sold – investors reap their portion of the profits.

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

ZINGERS

California's Corporate Weed Beef: Glass House Withdraws Defamation Suit Against Catalyst Cannabis

Ohio Medical Marijuana Companies Transition To Recreational Market, Sales Expected Soon

Cannabis Valuations 'More Mathematical, More Balance Sheet Driven' Than Before: Insights From Industry Experts

War And Drugs: Ukraine And Russian Soldiers Use MDMA, Amphetamines, Alcohol And Cannabis As Healing And Combat Tools

Cannabis Stocks And ETFs Surged On Marijuana Rescheduling News: WTR's Industry Report Analyzes What's Behind The Optimism

ONE MORE FOR THE ROAD

Will Pharma And Healthcare Have Competitive Edge Post-Rescheduling?

Briefly: Roy Bingham, CEO of cannabis data company BDSA, anticipates substantial growth in the U.S. cannabis market, projecting sales to reach nearly $46 billion by 2028, following the federal move to reschedule marijuana.

So Basically: Bingham predicts this growth to be primarily fueled by the expansion of adult-use markets and the adoption of new licensed and regulated markets, both medical and recreational.

So Then: Key states driving this surge include New York, New Jersey and potentially Florida and Ohio, Bingham says.

But Also: Following the DEA's decision to reclassify cannabis to Schedule III, Bingham predicts this will open up new avenues for medical research and investment.

So What? "We expect healthcare and pharmaceutical companies to start looking at the real-world data more carefully and recognizing the impact of cannabinoids on reducing the use of other medications," Bingham says.

Click here to see which companies stand to benefit.

KEEP READING

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