Jim Hagedorn sounds off on cannabis banking laws
If the issue of legalizing cannabis were on a national ballot, it would win in a landslide. So then why is Congress so tone-deaf?
More than 75% of Americans live in states where cannabis use is legal in some form. Thirty-two states have amended their constitutions or passed laws that allow for the cultivation, sale and use of medical cannabis. Eleven states have legalized it for adult use. Still in its infancy, this legal industry already generates nearly $12 billion in sales, more than $1 billion in state tax revenue, and employs more than 200,000 Americans.
Beyond the immediate economic impact, technology has put the industry on the cutting edge of innovative growing methods that can potentially transform indoor farms across America and around the world.
Despite these realities, Congress has largely behaved as if this industry does not exist. It’s time for change.
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