Tuesday, June 18, 2024 1 PM Eastern | 60 Minutes

State officials have suggested a streamlined licensing process to convert existing medical cannabis businesses into dual-use locations, which could see consumer-facing sales as soon as this June. Following the initial round of dual-use licenses, the state will issue up to 40 cultivation licenses and 50 retail licenses to new cannabis businesses in a future round. However, it is unclear when that process will occur. The adult-use cannabis market in Ohio is projected to reach $4 billion in value by 2028, according to projections by MJBizDaily.

Topics Include:

• Essential terminology: cannabis/marijuana/hemp, THC/CBD
• The cannabis market opportunity in the US
• The cannabis market opportunity in Ohio
• Defining cannabis businesses and identifying their needs
• Federal and state cannabis law, guidance, and regulations
• The potential effect of rescheduling marijuana on financial institutions
• FinCEN’s 2014 marijuana banking guidance: what you need to know
• Locating and onboarding cannabis businesses
• Ongoing monitoring and working with your examiner

Special Considerations for Ohio:

Every state’s cannabis market is different, and this session is designed to delve deep into the unique opportunities, risks, and operational considerations banks in Ohio need to understand. Based on our experience building and scaling over 160 cannabis banking programs across the U.S. and working directly with Ohio financial institutions, we will share best practices for running a cannabis line of business as they apply to banks operating in the state.   

Takeaways:

• Copies of all presentation materials
• 90-day access to a recording of the entire session