B School for Public Policy
The Future of Marijuana Banking
Seminar by Professor Peter Conti-Brown
A recent market intelligence report asserts that the U.S. cannabis market will approach $23 billion in sales by 2023. But the full economic benefits of that growth, particularly with respect to the raising of significant tax revenues, cannot be had unless the way is cleared for giving cannabis-related industries access to traditional banking services. Professor Peter Conti-Brown of the Wharton School, whose areas of expertise include financial regulation, administrative law, and central banking, will discuss possible pathways forward, focusing on what actions Congress and the various financial regulators, including the Federal Reserve, could take in navigating between state sovereignty vs. federal marijuana enforcement, as well as balancing the desire for reaping the rewards of a growing industry against the need to root out bad actors.