With voters from nine more states considering marijuana legalization in next months election, heres a state-by-state chart of the revenue implications.
States like Colorado will continue to forego revenue, as well as the opportunity to borrow against that revenue in the bond market, until the cannabis industry gains access to the banking system.
As banks make more loans to lower-rated municipalities, they may have to follow Interagency Guidance on Leveraged Lending that was developed with private and corporate borrowers in mind.