The House passed the SAFE Banking Act by a vote of 321-103 that shields banks from federal prosecution if they conduct business with cannabis companies in states allowing legal weed. 229 Dems, 91 Republicans and one independent voted in favor. Next up is the Republican-controlled Senate where plenty of questions exist on whether the Republicans will approve the act allowing cannabis companies to interact with the banking system and list on major stock exchanges. The Senate has a companion bill with 33 co-sponsors so plenty of support exists. U.S. MSOs like Curaleaf (CURLF), Harvest Health (HRVSF), Cresco Labs (CRLBF) and Acreage Holdings (ACRGF) stand to benefit from better access to capital while Canopy Growth (CGC) would be able to close the Acreage deal. Aurora Cannabis (ACB) would be left out with no major deal for a US operator and likely required to pay a significant premium to purchase a major U.S. player in the cannabis sector. The vote here is whether the Senate approves the act by the end of October. My view is that the Senate eventually approves the bill, but not before the end of October. Disclosure: No position.