Key players in the marijuana business are urging the White House to relax federal regulations that impede their growth and inadvertently empower illegal cartels. The industry's market, valued between $40 billion and $60 billion, struggles mainly with banking restrictions due to marijuana's classification as a controlled substance under federal law. As a result, U.S. cannabis businesses cannot access traditional banking services or list on stock markets. Advocates like Marc Cohodes emphasize the need for regulation to curb illegal operations and promote legitimate economic benefits.
I'm aware of the good cannabis can do. I'm also aware of how bad guys are making a move in the industry in the absence of a regulated, taxed US cannabis business that can get bank financing.
Without access to the US financial system, Pot Inc. will remain a backwater of smallish entrepreneurs producing creams and gummies.
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