Last month, a long-awaited U.S. Senate legislation that would decriminalize and deschedule cannabis on the federal level, while also promoting social equity, was unveiled. Known as the Cannabis Administration And Opportunity Act (CAOA) — by Senate Majority Leader Chuck Schumer, Senators Ron Wyden and Cory Booker — the bill proposes a comprehensive marijuana reform.
Since then, however, CAOA came under a lot of criticism. It's too complex, critics say, and many cannabis industry experts such as Cantor Fitzgerald’s Pablo Zuanic and Emily Paxhia, co-founder of cannabis investment fund Poseidon Asset Management, agreed that the chances of the bill passing the Senate are dim.
