Federal Rescheduling: What It Could Mean For Cannabis Banking And Capital Markets
As cannabis rescheduling inches forward, the conversation surrounding its impact on traditional banking and capital markets has intensified. Pablo Zuanic, an equity analyst covering cannabis and psychedelics, shared his thoughts during a recent interview, shedding light on what rescheduling could mean for the industry’s financial future. Zuanic, who will speak at the upcoming Benzinga Cannabis Capital Conference, believes that while rescheduling holds promise, its timeline and impact remain uncertain.
A Long-Awaited Move
Zuanic explained that the Biden administration is committed to cannabis rescheduling, a process that began in October 2022. However, completing the process is proving to be complex. “Rescheduling is something that President Biden wanted to get done expeditiously in his term but done in a deliberate, systematic way, following the rules of the Controlled Substances Act,” he said. While the timeline is uncertain, many are closely watching for developments that could come before the 2024 election.
However, as Zuanic pointed out, there’s a possibility the process might extend beyond the current administration. “All scenarios are on the table,” …