I've heard the new presidential administration may push to legalize or at least de-criminalize marijuana. This would simplify things greatly for cannabis merchants' payment processing. But it doesn't appear there are many options for agents looking to serve this market. What can you tell me about the current status and prospects for the cannabis market right now.
Roy Graham, Merchant Level Salesperson
Thank you for your question about prospects in the cannabis sphere. Right now, the page listing priorities for the Biden-Harris administration, www.whitehouse.gov/priorities, doesn't mention cannabis. On the list are COVID-19, climate, racial equality, the economy, health care, immigration, and America's global standing. Given the pressing nature of those items, it's impossible to predict when or if legislators to decriminalize or legalize marijuana will be introduced. So, the payments industry will remain on uncertain ground when it comes to serving cannabis retailers.
In 2019 and 2020, we published a number of articles on payment processing for the cannabis market, as follows:
Another good resource is the MLS Forum, which MLSs can join after registering on our website, www.greensheet.com. A recent thread in the forum titled "Processing for Mary Jane" discusses current issues MLSs are facing.
Thanks again for your question, and good luck to you.
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