Cannabis Banking and financial services in

Cannabis Legalization and Regulation in Missouri

Missouri legalized adult-use cannabis in November 2022 through Amendment 3. Adults 21 and older may legally possess up to 3 ounces of cannabis flower. Home cultivation is permitted with a state-issued personal cultivation card, allowing up to six flowering plants, six non-flowering plants, and six clones per person. Plants must be grown in an enclosed, locked space, with household limits applying. Public consumption is prohibited, and impaired driving remains illegal.

Licensed adult-use retail sales launched in February 2023. Dispensaries across the state now operate under licenses issued by the Missouri Department of Health and Senior Services (DHSS). The adult-use program prioritizes microbusiness licenses to expand opportunities for small-scale operators and social equity applicants.

Missouri’s medical cannabis program, created in 2018, continues alongside adult-use. Registered patients may purchase higher amounts than recreational users and benefit from reduced tax rates. Patients may also cultivate plants at home with a medical cultivation card.

Hemp-derived products are legal in Missouri if they contain no more than 0.3% THC. Products containing intoxicating hemp-derived cannabinoids, including delta-8 THC, are regulated as cannabis when intended for consumption. Businesses must meet state requirements for testing, labeling, and retail sales to remain compliant.

For cannabis operators, Missouri is a rapidly growing market with strong demand. Banking and financial services require strict compliance with licensing verification, beneficial ownership records, operating agreements, and financial documentation. Because the market is highly cash-intensive, businesses should be prepared with secure armored transport, deposit scheduling, reconciled accounting, and AML/BSA monitoring. Institutions providing accounts or financing expect operators to maintain audit-ready records, transaction monitoring, and accurate excise and sales tax procedures.

The Missouri Department of Health and Senior Services regulates both adult-use and medical cannabis. For official program details, licensing information, and compliance updates, visit:
https://health.mo.gov/cannabis