As Arizona, California, Maine, Massachusetts, and Nevada prepare to vote on marijuana legalization next month, all eyes are on the initial outcomes of those states that have already legalized marijuana. In 2012, Colorado and Washington became the first two U.S. states – and the first two jurisdictions in the world – to approve ending marijuana prohibition and legally regulating marijuana production, distribution and sales. In the 2014 election, Alaska and Oregon followed suit, while Washington D.C. passed a more limited measure that legalized possession and home cultivation of marijuana. However, any type of legalization is great for those who need it – and with more and more studies showing the positive effects of medical marijuana, more and more people can use it and reap the benefits.
Other states, such as Georgia, have a limited CBD oil usage for those with severe seizure ailments. But with more and more states legalizing medical or recreational marijuana in some form or another, and more and more people in favor of some form of legalization, everyone can reap the benefits. Taxes are higher on legalized marijuana than other products, and the tax money is used to renovate infrastructure, schools, and even teach those about the negative effects of illicit drugs and alcohol.
This benefits everyone, but some are still hesitant to embrace the rewards that legalized marijuana and medical marijuana can bring to the States. The Feds, for one, still have marijuana in any form categorized as an illegal drug, so that makes it nearly impossible to have any federal help business-wise. It also makes it nearly impossible to get a loan from a bank to help a growing or budding dispensary out, since the Feds regulate the banks.
But, the worst thing that a merchant can do is to have a “cash only” business. There are options to help you accept plastic card payments: A marijuana merchant account. They do exist, but you still need to make sure that the one that you choose truly understands the business, and isn’t just out for their own benefit.