California Weed Entrepreneurs Will Make $5.2B In 2018 With Almost No Banks To Put It In
California cannabis entrepreneurs will earn $5.2B in revenue in 2018 as recreational use becomes legal there.
The state of California will collect about one billion dollars in accompanying marijuana taxes.
These numbers, estimated by Matt Karnes, industry analyst and managing partner of New York’s GreenWave Advisors, point to the giant need for banking and financial services in the nascent legal cannabis industry.
These services however are generally not available says Karnes, and are federally illegal. Some glimmers of change though, are on the horizon.
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