TGIF, Cannabis Investors! Finally, tax refunds! When rescheduling finally comes to pass, these cannabis companies will get the most money back.

Plus, tune into our exclusive video interview with entrepreneur Luke Scarmazzo — who emerged from a 15-year tenure in federal prison for his involvement in a state-legal cannabis dispensary to co-found the premium legacy brand Prophet — from the Benzinga Cannabis Capital Conference in Miami. If you missed it, do not worry! Our next Cannabis Conference is in Chicago on Oct 8-9. Get your tickets here.

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

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TOP STORY

Biden Announces 'Monumental' Marijuana Rescheduling, DOJ To Take Next Steps

Briefly: Yesterday, President Joe Biden said his administration is officially moving to reschedule cannabis.

So Basically: President Biden moved to reschedule marijuana under federal law, praising what he called a “monumental” step.

Back Up: The White House announcement comes several weeks after the Department of Justice confirmed the DEA was moving to reclassify cannabis as a Schedule III drug.

Quoted: On X, President Biden posted a video with the following caption: "Too many lives have been upended because of our failed approach to marijuana. So today, the Department of Justice is taking the next step to reclassify marijuana from a Schedule I to a Schedule III drug under federal law."

So What? Major players in the marijuana industry, including Canopy Growth Corporation, Aurora Cannabis and Tilray shares are moving on the long-awaited news.

What Next: The Justice Department is expected to post its rescheduling proposal in the Federal Register. A 60-day public comment period will follow.

Click here to read more.

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ZINGERS

Biden's Greenlight: What To Know About Fed-Regulated Marijuana, Markets, Legal Circuits And Compliance

Cannabis Cultivation Solutions Provider Agrify And California's Nature's Miracle Sign Definitive Merger Deal

Weed Industry Celebrates Biden's Rescheduling Move: 'Most Monumental Cannabis Reform In Half A Century'

Weed Stocks Rally After Biden Makes Marijuana Reclassification Announcement

ONE MORE FOR THE ROAD

Pitch Your Cannabis Business And Win Thousands In Prizes At This Benzinga & Curaleaf Competition

Briefly: The Benzinga Cannabis Capital Conference, in partnership with Curaleaf's corporate philanthropy arm Rooted In Good, has launched the 2024 Canna Founders Pitch Competition.

So Basically: The event will be a key feature of the Benzinga Cannabis Market Spotlight, providing a significant platform for cannabis entrepreneurs to showcase their ventures before a panel of esteemed judges.

So Then: This initiative aims to bolster diverse and minority-owned businesses within the cannabis sector, offering substantial prizes to help propel their growth. The runner-up will receive $2,500, while the winner will take home $5,000.

So What? The competition will take place on June 17, 2024 in New Brunswick, New Jersey. It is open for applications until May 28, 2024, with interested parties encouraged to apply by following this link.

Check to see if you are eligible here.

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