[QUOTE=Caymus;2088203]
Quote:
Originally Posted by Woodbear
Aren't all cannabis sales illegal under Federal law? I think about 20 states have so far "legalize" the sale.
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It is illegal under federal law, but they generally look the other way and leave it up to each state. However, one of the biggest obstacles facing the industry is that banks, which are FDIC chartered, won’t lend to businesses in the industry, whether it be growing, distribution, or product testing. That lack of financing essentially leaves the industry dominated by already cash rich entrepreneurs who can foot the substantial up front cost to enter the industry and essentially prohibits the small guy from participating in the high growth industry. It’s only a matter of time before a newer generation of politicians are the majority and cannabis becomes legal both Federally and by State throughout the county. Both the pharmaceutical and alcohol industry are cringing at the prospect as both industries will see their sales decline when consumers have viable options to their products.