To create a safe harbor for insurers engaging in the business of insurance in connection with a cannabis-related legitimate business, and for other purposes.

HR10471, titled 'To create a safe harbor for insurers engaging in the business of insurance in connection with a cannabis-related legitimate business, and for other purposes,' was introduced in the House on September 16, 2026, and referred to the House Committee on Financial Services. The bill is in its earliest stage—no committee hearings, markup, or votes have occurred. The sponsor is Rep. Velázquez (D-NY-7), with one cosponsor. The bill's status as 'Referred to committee' means it has not yet been considered by the full House or Senate, and its path to enactment is uncertain. The bill would not allocate funding; it is a regulatory relief measure. The mechanism is a safe harbor: it would prohibit federal regulators from taking adverse actions against insurers solely for providing insurance to cannabis-related legitimate businesses in states where such activity is legal. This would reduce legal risk for insurers but does not mandate any specific action. The primary affected sector is Finance, specifically insurance and financial services. No specific public company is directly named in the bill, and the causal chain to any ticker requires multiple inference steps: the bill must pass, regulators must implement it, insurers must choose to enter the market, and then cannabis companies might see lower insurance costs. Given the early stage and lack of direct company impact, no tickers meet the confidence threshold. The bill's passage probability is low in the current Congress, given the lack of committee action and the narrow scope. For retail investors, the direct market impact is negligible at this stage.