June provides big wins for Cannabis Progress
June has been a sneaky positive month for cannabis policy progress. At a time when it was needed most, the industry has racked up a number of wins heading into the DEA hearings that will largely shape the future of the legal cannabis industry in the U.S.
SCOTUS Ruling
Top of the list is the Supreme Court's decision in United States v. Hemani, one of the most consequential cannabis cases in U.S. history.
The case centered on Ali Hemani, a Texas resident and cannabis user who kept a legally purchased 9mm pistol in his home. Federal agents found the firearm along with his cannabis during a search of the family home in 2022. Hemani was not intoxicated, not threatening anyone, and had done nothing violent. He was indicted anyway, under a federal law that carries up to 15 years in prison for any gun owner who "is an unlawful user of or addicted to any controlled substance."
The ruling was unanimous: all nine justices found that prosecuting Hemani under that law violated his Second Amendment rights. The decision is narrowly tailored to Hemani's specific facts — it doesn't erase the underlying law or guarantee blanket protection for every cardholder — but it's the clearest signal yet that simple, nonviolent cannabis use alone can't be used to strip someone of their gun rights.
First Cannabis Company on NYSE
Another monumental event drew less attention than the SCOTUS and DEA news, but is important progress nonetheless: Trulieve Cannabis Corp. became the first U.S. plant-touching cannabis company to list its shares on a major American stock exchange. On the heels of medical cannabis rescheduling, Trulieve restructured to consolidate its medical-only operations, allowing it to meet NYSE listing standards and become the first cannabis company on the exchange. Glass House Group quickly followed, and more multistate operators are expected to pursue the same path. It's a major step toward legitimizing the legal cannabis industry in the eyes of mainstream finance.
SAFE Banking Introduced
Finally, this last week theSAFE Banking Act of 2026 has been reintroduced by a bipartisan group of senators. The bill would let banks and financial institutions serve cannabis businesses without fear of federal penalties — something most still avoid given marijuana's federal status, forcing many dispensaries to operate largely in cash. SAFE, or something like it, is the next logical step in federal policy now that Schedule III rescheduling is underway.
Sponsors of SAFE or SAFER bills have never had this much momentum during a session to work with. While it still feels like a long shot to pass under this congress, depending on how midterms go, we could soon see a path for the legal cannabis industry to finally get access to federal banking.
