Data: Pot payments on the rise
Now that states such as Michigan, Utah and Missouri voted in favor of legalization in this year's midterms, legal marijuana is poised to become a growth industry.
But because cannabis remains illegal at the federal level, merchants are largely unable to access the banking system and are precluded from accepting credit and debit cards. However, the U.S. card brands appear eager to move into this market. Just last month, when Canada legalized recreational cannabis sales, American Express, Visa and Mastercard rushed to handle those payments.