Illinois became the 11th state to legalize recreational marijuana. There is no reason to hold marijuana illegal under Federal Law. Cannabis is a multi-billion dollar industry that can be taxed and create jobs, and decrease the influence of the pharmaceutical industry in our government and society. There is also no reason why family-run and state-regulated dispensaries and cultivators should be denied banking services. It is due to our own Federal government’s anti-money laundering regulations that require banks to file suspicious-activity of customers when banks suspect dealings in illegal activities: i.e. controlled substance of marijuana. If banks do not file such reports it can open up banks to potentially large fines and regulatory sanctions.
I will support full federal legalization taking marijuana off the controlled substance list and treat it like alcohol and business can prosper and revenue for government will be raised.