The cannabis industry changes fast and the trends and opportunities that come along with this nascent industry change right along with it.
Due to the stark disconnect between federal and state laws, banking still remains a huge problem within the industry. Many of the issues can be sourced back to 2013 when the United States Department of Justice implemented an investigation into businesses they believed were most at risk for fraud and money laundering, in an operation they called “Operation Choke Point”.
On June 25th 2019, Illinois became the 11th state, along with the District of Columbia, to legalize adult-use cannabis, and the first to do so by the legislative process. This followed a long month of anticipation after the Democrat-controlled House of Representatives passed the measure 66-47 in late May, and it was sent over to the desk of Gov. J.B. Pritzker.