We’re pivoting back to cannabis in our latest Trade to Black podcast and joining host Shadd Dales is millennial entrepreneur Anthony Varrell and lead financial writer Benjamin A. Smith. Today, we will be discussing the momentum in the marijuana space. Are we going to see cannabis rescheduled by the U.S. government in 2023? The U.S. Department of Health and Human Services (HHS) says they are speeding up its proceedings to review the category of cannabis and settle the reclassification of the substance as early as this year.
Is this finally happening? And is this the best catalyst yet for the industry? Even our usual contrarians are beginning to feel cautiously optimistic.
There’s a big question that comes with that, however. If cannabis is rescheduled or even totally descheduled sometime within the next six months, does the SAFE Bank Act even matter anymore? The guys share their thoughts on that. In a large part: it comes down to normalization.
SAFE Banking isn’t the only item that might get turned on its head by the HHS submitting new reclassification to Washington. We also break down the potential benefits of rescheduling to the current status of MSOs and smaller companies in the space. Junking 280e might turn a lot of cannabis companies cash flow positive, if not net income positive.
That brings up the question: if 280e is junked, is there a chance there might be a new federal tax code? Might more of the tax burden then fall on the consumer? Anthony shares his opinion on that. We also debate how the final verdict would affect both legal and illegal markets, and touch base on the Sports Commission and the recent news on its cannabis ban.
Is the industry forecasting a bullish market, and what can investors anticipate from the industry? Anthony says when Ben gets bullish, he pays attention. Find out why he’s feeling that way when you tune in to hear the latest.