What Jack Swagger's punishment from WWE will likely be according to Wellness Policy guidelines posted on Corporate website - can be subject to dismissal, likely 30 day suspension:
14. DISCIPLINE FOR VIOLATION OF LAW
Any WWE Talent, who is arrested, convicted or who admits to a violation of law relating to use, possession, purchase, sale or distribution of drugs will be in material breach of his/her contract with WWE and subject to immediate dismissal.
In addition to the penalties that may be imposed pursuant to his/her contract with WWE, a violation of this Section 14 may also be treated as a positive test for drugs prohibited by this Policy and therefore, subject to the penalties set forth in Section 15 of this Policy. (section 15 states 30 day suspension for first offence)