A Cash Bust in Kansas is Worrying Missouri's Cannabis Industry

[TexasTowelie]

A clash of cannabis laws hovers over the mysterious May seizure of $165,620 in Missouri medical marijuana-generated cash by federal agents with the Drug Enforcement Administration. The money was being delivered across Kansas — where state law considers marijuana entirely illegal — and on its way to its final destination in a credit union in Colorado, where cannabis is legal.

While key details of the incident remain cloudy, the fact that Missouri cannabis businesses are finding creative (and risky) methods of banking their money, going as far as shipping it via van across a cannabis-unfriendly state, comes as no surprise to the Missouri Bankers Association.

That's because there's a good reason why multiple cannabis dispensaries would rely on a Colorado institution instead of depositing it in a local bank: For the most part, the banks here won't take their money.

"It's just not widespread in Missouri; they are few and far between," says association spokesman Jackson Hataway, who sees the Kansas cash seizure as emblematic of Missouri's lack of banking resources for cannabis businesses.

Read more: https://www.riverfronttimes.com/WeedNews/2021/11/05/a-cash-bust-in-kansas-is-worrying-missouris-cannabis-industry

[Jilly_in_VA]

1. You just reminded me

of how much even my Texas Republican friends (and I have a few, bless their hearts) and all my Texas Democratic friends hate Kansas. As one of them said when I said that Oklahoma sucks---"Yeah, but it keeps Kansas from crashing into us." My Missouri cousin's strongly Democratic other grandfather, who raised her (long story) lived in Independence. He hated Kansas so much that he would not knowingly buy anything that was made or grown there.

[TexasTowelie]

3. I've never had a reason to go to Kansas and I've only met a few people from there,

mostly in professional settings. I heard a few Oklahoma jokes in my time, but that's probably because I went to a university just north of Austin so the football rivalry spilled over to my campus because our football program was dormant between 1950-2013.

[Delmette2.0]

4. I heard that joke about Oklahoma years ago.

Then the punch line was...So Texas doesn't fall into the Gulf of Mexico.

[CrispyQ]

2. When Colorado first legalized MJ, there were stories of Nebraska law enforcement

sitting at the border, waiting for people with Colorado plates.

I remember when Arnold Schwarzenegger was advocating for legalization & he said, "It is a leaf!"