Articles Tagged with The Business of Cannabis

Marijuana became legal in Illinois on January 1, yet licensed cannabis dispensaries are generally forced to operate like their street-corner, black-market counterparts in at least one respect: They are cash-only businesses because they have no access to banking services.

Chicago Business Lawyer

Illinois Cannabis Laws create new issues

That’s because federal law still classifies marijuana as a Schedule 1 drug, and classifies marijuana businesses as illegal. And since banking is regulated by federal law, banks technically could be subject to charges like aiding and abetting, or money laundering, should they make loans, provide credit or otherwise service these businesses.