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Investing in marijuana: Pipe dreams or path to profits?

Submitted by Marijuana News on Thu, 07/03/2014 - 03:20

Marijuana sales are spreading across the nation thanks to the growing legalization of the drug. Now a new financial firm, KindBanking, wants to be the financial backbone for the hemp and cannabis industry.

"Think of us as the GE Capital of this under-served, but potential multi-billion dollar industry," said KindBanking's founder and CEO David Dinenberg.

Combined recreational and medical marijuana sales in the United States are projected to be $8 million in 2018, according to Marijuana Business Daily. Twenty-three states and the District of Columbia allow medical marijuana and citizens in Colorado and Washington voted to allow adults to legally possess a small amount for recreational use. Colorado sales began the first of the year, and Washington pot shops are expected to open soon.

 

Matthew Staver | The Washington Post | Getty Images

KindBanking, which launched in April, already has nearly a dozen deals,...

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