The Pot Business: Boom Or Bust Ahead?

Noon Business Hour
April 20, 2018 - 5:19 pm

CHICAGO (WBBM NEWSRADIO) -- The legalization of marijuana has spawned an industry that is seeing rapid expansion and now employs over 200,000 people across the country. 

As an increasing number of states legalize or decriminalizing marijuana use, pot has become big business, but the industry is also experiencing a variety of growing pains.

"Really the industry is moving away from that (stoner) image and is trying to professionalize and really become like any big business,” Bloomberg Reporter Jennifer Kaplan told the Noon Business Hour.

“Still, these days it is not all that easy to invest, if you are a regular person, in one of these companies. Most people who are investing in these businesses are largely doing so in a private manner by making an investment in private companies.”

She adds that because marijuana is illegal at the federal level, most big banks refuse to do business with pot companies, and that often forces those businesses to deal in large amounts cash. 

They are doing everything from paying employees and paying taxes with bundles of cash.