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Re: spudsuds post# 20099

Sunday, 11/08/2015 2:05:19 PM

Sunday, November 08, 2015 2:05:19 PM

Post# of 36084
Assuming you mean for both medical AND recreational use?

Approx 23 have it legalized for medicinal use...and with medicinal use, many insurance companies won't cover it since it's federally illegal. You can't buy it at actual pharmacies since it's a schedule 1 drug federally. It must be obtained via dispensaries. Since banks are federally insured, they likely can't touch it. I'll post a few articles I'm finding on it as I'm typing this message.

For those people in those 23"ish" states, gift cards would certainly work to their advantage rather than carrying cash into the dispensaries. I'm also willing to bet they can skirt the laws by utilizing third-party companies to sell the gift cards.

People can then buy gift cards to the dispensaries from those companies using cash, check, or even credit card. The company then pays the dispensaries in cash and they take a commission from the sales.

http://www.forbes.com/sites/jacobsullum/2014/09/18/local-banks-terrified-by-friendly-neighborhood-marijuana-merchants/

http://www.latimes.com/local/la-me-pot-banking-20150801-story.html

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