35 US Senate seats are up for grabs, and several would be key wins for the cannabis sector

The business outlook for cannabis companies could be significantly different this time next year, depending in large part on which party controls the Senate and which senators are elected.

Observers say a critical component to getting cannabis banking reform, eliminating Section 280E of the federal tax code, and rolling back federal prohibition of marijuana, among other things, is a Democrat-controlled Senate.

It’s not just important to have a majority that favors reform, observers say, but to have reform-friendly senators as committee heads who can help advance marijuana-friendly bills to the floor for final votes.