Marijuana: An Unbanked Industry
from Cato Events Podcast
Marijuana is big business in the 29 states that have legalized medical cannabis and in several more that have legalized recreational use. However, the federal prohibition on marijuana prevents banks from serving legitimate marijuana clients—resulting in billions of dollars of marijuana-related profits being handled almost exclusively in cash. A new Federalist Society short documentary, “Medical Marijuana and Money Laundering,” tells the story. Join us May 10 for a screening followed by a roundtable discussion. We will explain the laws that create this peculiar situation, explore the problems it causes, and hash out some potential solutions.
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