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2020 presidential candidate Sen. Bernie Sanders (I-Vt.) released a proposal precisely at 4:20 pm on Thursday to legalize marijuana at the federal level, per a campaign email.

The big picture: Marijuana legalization has become an increasingly popular stance within the Democratic Party, but Sanders' proposal appears to be one of the most progressive in the 2020 field. Sanders says he would legalize marijuana within 100 days via executive action and fight against large marijuana companies monopolizing the market to ensure communities of color are able to benefit from the industry.

  • 11 states and Washington, D.C., have legalized marijuana, but it is still illegal at the federal level.
  • Sanders says his administration "will direct both federal and state authorities to review marijuana convictions and vacate and expunge all past marijuana-related convictions."
  • The plan would also "eliminate barriers to public benefits for people who have interacted with the criminal justice system."

By the numbers: Sanders also proposed using marijuana tax revenue to create a $20 billion grant program for entrepreneurs of color.

  • Tax revenue would also create another $10 billion in grant programs for businesses in areas that have been disproportionately affected by the criminalization of marijuana.

Go deeper: Axios' deep dive on the growing marijuana industry

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Quibi says it's shutting down

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Quibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.

Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global pandemic. The app launched six months ago.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: New York reports most COVID cases since MayStudies show drop in coronavirus death rate — The next wave is gaining steam.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.
2 hours ago - Podcasts

House antitrust chair talks USA vs. Google

The Justice Department filed a 63-page antitrust lawsuit against Google related to the tech giant's search and advertising business. This comes just weeks after the House subcommittee on antitrust issued its own scathing report on Google and other Big Tech companies, arguing they've become digital monopolies.

Axios Re:Cap talks with Rep. David Cicilline (D-R.I.), chair of the subcommittee on antitrust, about Google, the DOJ's lawsuit and Congress' next move.