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Marijuana Banking: Secretive but poised to grow

Pot Banking

KUOW Photo/Amy Radil

John Davis says his marijuana business is "built like a bank on steroids."

A cool billion dollars. Based on sales tax receipts, that's how much revenue the California medical marijuana industry generates each year. But even though their businesses are legit in California, owners of pot dispensaries often have trouble finding a bank to take their money.

So some have to get creative.

Amy Radil of public station KUOW in Seattle, where recreational pot is now legal, has this report on the tricky dance between pot entrepreneurs and banks.


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