Medical marijuana may be legal in many states, but federally, it is still illegal. This means that banks run the risk of being charged with money laundering or other crimes for working with what the federal government considers an illicit activity. This creates a precarious situation where billions of dollars of state-licensed marijuana profits are handled almost exclusively in cash. What are the laws the set up this framework? What problems does this create? What is the solution? Three experts weigh in.
As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.
- John Hudak, Senior Fellow, Governance Studies at the Brookings Institution
Reach John @JohnJHudak
- Jeffrey Miron, Director of Economic Studies at the Cato Institute
Reach Jeffrey @jeffreyamiron
- Julie A. Hill, Law Professor at University of Alabama School of Law
Reach Julie @ProfJulieHill