Here's your Forbes Daily Briefing for Sunday, April 20th. Today on Forbes, the 2025 Cannabis

42.0 list. Every 420, the high holiday for marijuana lovers, is a reason to examine the state

of the $32 billion cannabis industry. Pot may still be illegal at the federal level, but 39 states have some form of legal weed,

Nebraska legalized medical marijuana on Election Day, and the majority of Americans currently

support legalization, no matter their political leanings.

This past week, Representative David Joyce, a pro-pot Republican from Ohio,

reintroduceded the States Act, which, if passed, would deschedule state legal marijuana and create

a federal framework for cannabis products. For now, legal cannabis companies struggle under federal

prohibition, with punitive taxes

and a lack of interstate commerce.

Meanwhile, the federally legal hemp market, which sells THC-infused products online in grocery

stores and smoke shops around the country, and the illicit market, have been undeterred

by state legalization.

And the hope that the Drug Enforcement Administration would reclassify marijuana as a less

dangerous drug, it is currently in Schedule 1, the same category as heroin and LSD, has been

dashed.

Again.

The DEA stalled the process late last year.

That said, there are plenty of companies that have found a way to keep afloat in a punishing

market.

For the fourth annual Cannabis 42.0 list, Forbes is celebrating the entrepreneurs, innovators,

and disruptors who are finding success in the state-regulated cannabis market.

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