Jane Wells just got back from Las Vegas reporting for CNBC as the Gaming Control Board, which is the regulatory authority over the casinos, meets to decide what to do about pot money in casinos. Marijuana is legal in Nevada, but casinos are regulated like financial institutions, and they are concerned letting marijuana money into the casinos could get them in trouble with the feds.
Many cannabis companies take their cash into casinos, convert it into chips, gamble maybe 5% for a while, cash out and get a check which they can then put into a bank account (since most banks won’t let these companies opening bank accounts due to federal prohibitions against pot).
Make sure to check out Jane Wells podcast “Strange Success”