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Pot Inc. may finally be inching closer to the US bank access it craves

Nypost · · 747 words · By Charles Gasparino
Cannabis legalization US Legislative Process Financial Regulation
open_in_new Read the original article: https://nypost.com/2026/05/15/business/pot-inc-may-finally-be-inching-closer-to-…

psychologyDetected Techniques

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Loaded Language 80% confidence
Using words with strong emotional connotations to influence an audience.
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Name Calling / Labeling 70% confidence
Attaching a negative label to a person or group to reject them without evidence.
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Exaggeration / Hyperbole 60% confidence
Overstating facts or claims to create a stronger emotional response.

fact_checkFact-Check Results

11 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 4
cancel Disputed 2
help Insufficient Evidence 2
verified Verified 1
verified Verified By Reference 1
schedule Pending 1
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“the $50 billion cannabis business”
DISPUTED
Different sources provide wildly different valuations for the US cannabis industry: one source cites $32 billion, while another projects it will exceed $110.80 billion by 2033. The $50 billion figure is not explicitly confirmed by the provided evidence.
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web search NEUTRAL — Cannabinoid hyperemesis syndrome, resulting from heavy cannabis use, is characterized by nausea, vomiting, and abdominal pain. It can lead to severe dehydration, seizures, kidney failure, and cardiac …
https://en.wikipedia.org/wiki/Cannabis_in_the_United_States
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web search NEUTRAL — The USA Cannabis market size is anticipated to exceed USD 110.80 Billion by 2033, growing at a CAGR of 11.41% from 2023 to 2033. The US cannabis industry is growing with legalization, technology, and …
https://www.sphericalinsights.com/reports/united-states-cann…
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web search NEUTRAL — While the $32 billion cannabis industry rejoiced at the historic move, the process will not be quick. Marijuana is still categorized as a Schedule I drug, alongside heroin and LSD.
https://www.forbes.com/sites/willyakowicz/2026/01/24/where-i…
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“the key barrier is GOP opposition — mainly in the US Senate — to legislation known as the SAFER Banking Act”
CORROBORATED
Multiple independent sources (INN, Lexology) report that the SAFER Banking Act faces fierce opposition from key Republican senators in the US Senate.
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web search NEUTRAL — The SAFER Banking Act is finally going to a vote on the Senate floor. What does this mean for investors?But with key Republican senators fiercely opposed to reforming federal cannabis laws, many fear …
https://investingnews.com/safer-banking-act/
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web search NEUTRAL — Proponents of the SAFE Banking Act were not dissuaded from their support, however. “Every day that Congress continues to ignore reality, unintended negative consequences pile up for legitimate busines…
https://www.manatt.com/insights/newsletters/financial-servic…
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web search NEUTRAL — Proponents of the SAFE Banking Act were not dissuaded from their support, however. “Every day that Congress continues to ignore reality, unintended negative consequences pile up for legitimate busines…
https://www.lexology.com/library/detail.aspx?g=ddf6dddb-dc1d…
verified
“the SAFER Banking Act... would create a “safe harbor” for marijuana, meaning big banks can finally lend money to any business that touches weed.”
VERIFIED
The evidence confirms that the act aims to address the barrier for licensed businesses accessing banking and financial services, effectively creating a legal pathway (safe harbor) for banks to serve the industry.
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web search NEUTRAL — How might the SAFER Banking Act impact the industry? While some banks, credit unions, and other financial services providers currently serve the industry, the majority of state-legal medical or recrea…
https://www.reuters.com/legal/litigation/what-would-passage-…
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web search NEUTRAL — The SAFER Banking Act has passed the House seven times since it was first introduced. It has grown in scope, complexity and political compromise — but it has never made it to a Senate vote. But that c…
https://archives.boulderweekly.com/features/safer-banking-ac…
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web search NEUTRAL — Federal banking regulations currently do not recognize the legal cannabis industry that exists in dozens of U.S. states, creating a significant barrier for licensed businesses accessing banking and fi…
https://mgmagazine.com/press-releases/safe-banking-act-reint…
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“President Trump’s executive order in December... didn’t legalize pot on the federal level; it just made it less illegal.”
CORROBORATED
Multiple sources confirm that President Trump signed an executive order that eased restrictions and provided practical changes (like eliminating tax rule 280E) without fully legalizing marijuana at the federal level.
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web search NEUTRAL — Does not reflect federal, tribal, or local laws. · Map does not show state legality of hemp-derived cannabinoids such as CBD or delta-8-THC, which have been legal at federal level since enactment of t…
https://en.wikipedia.org/wiki/Legality_of_cannabis_by_U.S._j…
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web search NEUTRAL — While this move does not fully legalize marijuana, it could mean some important practical changes, including easier medical access and fewer legal gray areas for consumers and businesses. The official…
https://wutqfm.com/trump-signs-executive-order-easing-mariju…
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web search NEUTRAL — Finally, the President’s executive order also eliminates a tax rule known as 280E, which prevented businesses engaged in the sale of a Schedule I or II controlled substance from deducting business exp…
https://www.linkedin.com/pulse/christmas-comes-early-cannabi…
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“It’s still a Schedule 3 controlled substance”
DISPUTED
The evidence is contradictory. Wikipedia and HHS state it is currently listed as Schedule I, while other sources discuss the process of reclassifying it to Schedule III or state that it 'will be' Schedule III, indicating a transition rather than a current settled status.
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web search NEUTRAL — Timeline of Gallup polls in US on legalizing marijuana.[1]. In the United States, cannabis is legal in 40 of 50 states for medical use and 24 states for recreational use. At the federal level, cannabi…
https://en.wikipedia.org/wiki/Legality_of_cannabis_by_U.S._j…
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web search NEUTRAL — Marijuana Will Be a Schedule III Controlled Substance (Federal Law).A positive test for marijuana metabolites is sufficient to trigger removal from duty, even if the driver used the substance legally …
https://www.turnpikelaw.com/marijuana-is-being-reclassified-…
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web search NEUTRAL — Marijuana is currently listed as a Schedule I controlled substance under the CSA.Therefore, the re-classification of marijuana in Schedule III would not make marijuana legal for every use at the feder…
https://www.healthlawadvisor.com/hhs-recommends-re-classific…
verified
“Tim Scott, the GOP senator from South Carolina and chairman of the Senate Banking Committee”
VERIFIED BY REFERENCE
Multiple sources and official descriptions confirm Tim Scott is a Republican Senator from South Carolina and the Chairman of the Senate Banking Committee.
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web search NEUTRAL — The Senate Banking Committee also has oversight over the Securities and Exchange Commission (SEC). Career snapshot. Scott has represented South Carolina in the U.S. Senate since 2013.
https://www.linkedin.com/pulse/moonpay-minute-tim-scott-moon…
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web search NEUTRAL — As the longest-serving Black senator in U.S. history and the chairman of the Senate Banking Committee, I have seen firsthand that poverty does not discriminate.Republican Tim Scott represents South Ca…
https://www.mixedtimes.com/opinion/my-family-sacrificed-for-…
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web search NEUTRAL — Senators Tim Scott and Elizabeth Warren, the chairman and ranking member of the Senate Banking Committee.The Senate Banking Committee voted to advance its long-awaited market structure bill to the ful…
https://www.coindesk.com/policy/2026/05/14/live-senate-banki…
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“Weed, he says, is today “300% stronger than it was” back when Cheech and Chong began making pot acceptable for recreational use back in the 1970s.”
CORROBORATED
Multiple sources confirm that marijuana today is significantly more potent than in the 1970s, with estimates ranging from 3-10X (300% to 1000%) more THC.
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web search NEUTRAL — THC-O or 'ATHC' is popping up all over the place, but there is a very strange history behind this very potent man-made analog. This is insane.Filmed legally ...
https://www.youtube.com/watch?v=t26K8Ons1k4
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web search NEUTRAL — Marijuana today really is stronger that it was in the 1970s, according to several recent reports. Estimates on just how much stronger vary, since marijuana is a tricky thing to measure.
https://www.businessinsider.com/is-weed-stronger-today-than-…
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web search NEUTRAL — Is today’s cannabis really more potent than it was in the 1970s?According to some recently published studies, today’s cannabis contains between 3-10X more THC than what was available in the middle of …
https://docmj.com/marijuana-today-vs-marijuana-from-the-70s-…
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“president Trump classified it down to a schedule that allows for prescriptions.”
CORROBORATED
Sources confirm that the Trump administration directed the reclassification process to increase access and that the acting attorney general signed an order reclassifying state-licensed medical marijuana as a less-dangerous drug.
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web search NEUTRAL — Schedule I is the only category of controlled substances not allowed to be prescribed by a physician. Under 21 U.S.C. § 812, drugs must meet three criteria in order to be placed in Schedule I: The dru…
https://en.wikipedia.org/wiki/Removal_of_cannabis_from_Sched…
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web search NEUTRAL — President Donald Trump directed his administration last year to begin the reclassification process, in order to increase access and research of the drug. Marijuana remains illegal at the federal level…
https://www.bbc.com/news/articles/cdxd0xxp0jko
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web search NEUTRAL — President Donald Trump's acting attorney general on Thursday signed an order reclassifying state-licensed medical marijuana as a less-dangerous drug.
https://abc7news.com/post/trump-reclassifies-state-licensed-…
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“The Safer bill resides in the House of Representatives.”
INSUFFICIENT EVIDENCE
No evidence was provided for this specific claim in the gathered results.
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“majority Leader John Thune is still an opponent”
INSUFFICIENT EVIDENCE
No evidence was provided for this specific claim in the gathered results.
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“Marc Cohodes, a former hedge-fund manager and investor in Glass House Brands, a major California-based cannabis-cultivation business”
PENDING
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.