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Home 🌿 Marijuana Business News 🌿 America's legitimate pot businesses still operate like illegal enterprises in one big way 🌿

America's legitimate pot businesses still operate like illegal enterprises in one big way

Submitted by Marijuana News on Fri, 11/13/2015 - 08:45

Recreational pot wasn't legal anywhere in the US when "Dazed and Confused" first came out in 1993. See Also What it's like to visit a marijuana dispensary in Colorado This court ruling has the potential to crush the marijuana industry Canadian marijuana companies are smiling after last night's election stunner

Four states have already legalized recreational marijuana, and many more may be poised to join them despite Ohio's recent decision to reject legal pot.

Now that more states are legalizing pot, it's starting to become a lucrative business. Recreational pot made $700 million last year in Colorado alone and could top $1 billion in 2016, the Washington Post reported.  

Though this is all completely legal revenue, most banks won't take cannabis cash. 

That's because marijuana is illegal under US law, and banks have to comply with federal regulations. While it's possible for banks to accept pot cash...

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