The United States has found itself divided on nearly everything in recent months, however, a point of bipartisan support has arisen in the laws surrounding cannabis for recreational use, or farming of hemp products or medical use. Most recently, voters in Arizona, New Jersey, South Dakota, Montana, and Mississippi passed ballot measures in the November 3rd election to bring legal cannabis to their states.
These ballot measures will help further the growing cannabis industry in those states. However, with growth in the industry comes additional scrutiny from regulators, and increased opportunities to fail to develop adequate controls for BSA and money laundering regulations. This article will address the new state laws and discuss how the growing market will be impacted by these new entrants.