(Source) Although congressional efforts to decriminalize marijuana remain ongoing, we have seen the legalization of marijuana in several states both for medicinal use and for recreational use. In as early as 2012 following election day, Colorado became the first state to legalize the use and sale of marijuana. Since then, it isn’t uncommon to see
(Source) On Election Day, November 3, 2020, voters in four states, New Jersey, Arizona, Montana, and South Dakota approved the legalization of recreational marijuana in their states. These referendums, known as ballot initiatives, allow voters to participate in the state’s policymaking process by inviting them to vote on a proposed law. Prior to the 2020 election, nine states and
(Source) With the increase in the number of states legalizing cannabis for recreational or medical purposes, issues come to light surrounding the implications of the relationship between the legal cannabis industry and banks. Due to marijuana’s current illegal status under federal law, the legal cannabis industry suffers in several ways from its lack of banking