Cannabis News of Note for the Week:

Green Market Report: Biden announces ‘monumental’ shift to formally reschedule marijuana

Banking Dive: Pot banking bill advocates push for action this year

Politico Pro Cannabis (5/13): Senate Passes FAA Without Weed Banking (paywalled newsletter, text below)

Benzinga: Armed Robbers Make Off With $437,000 From Marijuana Courier: Cannabis Banking Reform Would Stem Cannabis Dispensary Attacks Where Workers Are Sitting Ducks

Marijuana Moment: GOP House Leaders Propose Reducing Regulatory Barriers For Some Hemp Growers In Draft Farm Bill


Cannabis Reports of Note for the Week:

PBC Conference: Green Pages Directory – 2024

Congressional Research Service: State Marijuana “Legalization” and Federal Drug Law: A Brief Overview for Congress

69% Of American Voters—Including Majority Of Republicans—Support Marijuana Legalization, Fox News Poll Finds


When the Senate passed a five-year reauthorization of the Federal Aviation Administration on Thursday, the cannabis banking bill was nowhere to be seen. Despite talks to add the SAFER Banking Act and a stablecoin bill to the FAA, it appears now that supporters will need to find a different vehicle to get their weed package over the finish line.

It’s not particularly surprising: We reported late last month that Minority Leader Mitch McConnellstrongly opposed including the cannabis provision in the FAA, with Sen. Kevin Cramer (R-N.D.) — a consistent champion of cannabis banking legislation — saying there wasn’t enough support to add it as an amendment.

What’s next: Cramer told Natalie in early May that there’s talk that a package centered around the cannabis banking bill and stablecoin legislation could be brought to the floor after the FAA. That would open the door for other amendments, however — some of which could kill the deal. Cramer and other sources we’ve spoken with all sound the most bullish at this point about the bill coming up in the lame duck, after the November election.

This option is not without irony, of course: Majority Leader Chuck Schumer tried to get the cannabis banking bill done during lame duck in 2022, only to have it killed by McConnell. This time the story is a little different, as the bill has already gone through regular order — it passed out of committee last year.