Faisal KhanAnswered Mar 6, 2017Currently, no one is touching/processing the sale of legal Marijuana. The estimated size of the legal Marijuana industry varies widely, some estimates are that it is a $1+ Billion industry already and is growing fast. All sales being in cash.
Banks and Processors are afraid to provide transaction processing services to this industry, even if it is legal in a particular State, because federal laws might supersede should the proverbial shit hit the fan.
Right now, not many players (if not zero). Expect this to change. Marijuana only processors are in the works, who own the entire value-chain, including the bank.
Banks and Processors are afraid to provide transaction processing services to this industry, even if it is legal in a particular State, because federal laws might supersede should the proverbial shit hit the fan.
Right now, not many players (if not zero). Expect this to change. Marijuana only processors are in the works, who own the entire value-chain, including the bank.