The boost to marijuana stocks from President Joe Biden’s recent announcement was short-lived. But the marijuana industry’s hope for a policy jackpot endures. Biden’s directive for his administration to review how marijuana is scheduled under federal law starts a process that could be drawn out and uncertain.

For an industry impatient for a short-term win, attention now turns back to the Secure and Fair Enforcement (or SAFE) Banking Act. While Biden highlighted the pressing need for protections for young people, their health and welfare are typically ignored in the SAFE Banking promotional drumbeat.

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