Their analysis predicts that several additional states – including Florida, Missouri, and Ohio – will regulate adult use markets in the coming years.
Topic: Marijuana Business
In all, the agency identified 553 banks and 202 credit unions that are "actively providing banking services to marijuana-related businesses."
Retail sales totals in 2021 were the highest ever reported by state regulators.
“Overall, the cannabis industry has contributed $43.5 billion to Canada’s GDP,” authors determined.
Over 70 percent of respondents said that the “lack of access to banking or investment capital” was their top challenge and only 40 percent believe that “the industry is heading in the right direction.”
“As of December 2021, states reported a combined total of $10.4 billion in tax revenue from legal, adult-use cannabis sales.”
Nationwide, state-legal cannabis ranks fifth among America’s most valuable crops – trailing only corn, soybeans, hay, and wheat.
Investigators identified virtually no incidences of retailers selling cannabis to patrons without first validating that they were age 21 or older.