The legal marijuana industry is booming, but it has a problem, a problem that grows along with its success: cash.
Because of federal law, banks don’t want to touch the cash made by legal cannabis retailers. This means business owners have to find a secure way to transport and secure the cash they have on hand. One of those ways to secure cash is the marijuana “kiosk.”
Colorado and Oregon aren’t the only states reaping the rewards of legal cannabis — 2016 is shaping up to be Washington State’s legal weed industry’s most lucrative yet, with sales generating almost as much revenue the first half of this year than the whole of 2015.
Heading into the start of the 2016 fiscal year, Washington recreational marijuana had generated more than $660.6 million in sales, bringing in over $126.6 million in taxes for the state.
Now that the “Adult Use of Marijuana Act” has officially qualified for the ballot in California, everyone’s attention turns to the vote this November and beyond. If recreational legalization is passed by voters it will unleash an economic revolution in the state.
By itself, California is the world’s 6h largest economy. With almost 40 million people and a medical marijuana industry that is 20 years old, CA is primed for government restrictions to be taken off of recreational growing and sales.
In a real mind-boggler, all grades of marijuana with the exception of the overall U.S. price index finished out the month below their April average. Mid-grade had such a horrific month; it hit its lowest price point in six full years.
It was crowded at the top in May for most expensive pot as Illinois, Louisiana, Maryland, and Tennessee all clocked in with $400 ounces. On the flip side, Colorado leaves all competition in the dust with $120 ounces of Goji OG.