This Week in Cannabis Investing: Safe Banking Act in Focus During Lame-Duck Session

Marijuana advocates are hoping the outgoing Congress will take action on the Safe Banking Act, legislation that will improve cannabis companies' access to finance.

U.S. Capitol building at night
(Image credit: Getty Images)

The Safe Banking Act is proposed legislation aimed at bridging the gap for cannabis companies at the state and federal levels. And with Congress right in the thick of its lame-duck session, the cannabis industry is practically holding its breath to see if federal banking reform will happen. 

It's exciting to see the Senate pass the the Medical Marijuana and Cannabidiol Research Expansion Act and President Joe Biden expected to sign it soon (more on this below), which creates a potential throughline to getting the SAFE or SAFE+ Banking Act done. 

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Morgan Paxhia
Contributing Writer

Morgan Paxhia is Managing Director and Co-Founder of Poseidon Investment Management. With over 10 years experience in investing and finance, Morgan has developed a deep understanding of individual company analysis, portfolio construction, and risk mitigation. This content is not intended to provide any investment, financial, legal, regulatory, accounting, tax or similar advice, and nothing should be construed as a recommendation by Poseidon Investment Management, LLC, its affiliates, or any third party, to acquire or dispose of any investment or security, or to engage in any investment strategy or transaction. An investment in any strategy involves a high degree of risk and there is always the possibility of loss, including the loss of principal. This content should not be considered as an offer or solicitation to purchase or sell securities or other services. Any of the securities identified and described herein are for illustrative purposes only.  Their selection was based upon nonperformance-based objective criteria. The content presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Past performance is not indicative of future results.