After ascribing 75% odds of SAFE Banking Act legislation passing in the 2022 lame duck session of Congress, Wall Street investment bank Cowen has significant dialed back their hopes for federal cannabis reform in 2023 & 2024. According to Managing Director and Senior Research analyst Vivien Azer, the firm believes reform has a minimal chance of passing over the next two years.

The updated prognostication came courtesy of an interview published by Yahoo! Finance yesterday afternoon. In it, Vivien Azer described Cowen’s outlook as “not at all constructive” on the topic of regulatory reform passing in the 118th Congress. 

😠Vivian Azer told Yahoo! that the IB does not believe #cannabis legalization will occur in "the next ten years". Furthermore, Cowen's outlook is "not at all constructive" on federal reform in the 118th Congress, convened today and scheduled to continue until Jan 3, …

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