L-R: Nikolas S. Komyati, Patrick J. Medeo and Siena Carnevale of Bressler Amory & Ross The 'State' of Cannabis Banking: Still Waiting on Guidance
Financial institutions and MRBs alike should be cautious when navigating this checkered landscape, where rapid industry growth and lack of a cohesive, overarching regulatory framework among states makes compliance in multiple markets difficult.
November 22, 2022 at 11:47 AM
8 minute read
Marijuana
Legalization of recreational adult-use marijuana was on the ballot once again this November and, as counting draws to a close, voters have shown their support. Of the five states where legalization was on the ticket, voters in Maryland and Missouri elected to join the 19 states that have already legalized recreational use. Should the votes stand, recreational marijuana is now legal in 21 states, and a resounding 37 states allow medical use to varying degrees. See Marijuana Laws and Ballot Measures in the U.S., Ballotpedia.org (last accessed Nov. 10, 2022).
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