On its website, Helix TCS Inc., boasts that it provides its customers “with the most powerful and effective operating services platform in the market. Its suite of services enable business owners and operators to better manage and mitigate risk while they focus on their core business.” Helix offers a range of technology, compliance and security services to its business customers.
Every single one of whom is violating federal law, because “Helix TCS’s technology suite is a comprehensive seed-to-sale platform for licensed cannabis businesses.” According to Governing Magazine, 11 states plus the District of Columbia have legalized recreational marijuana while all but 17 states permit its medical use. (For the moment, New Mexico remains in the medical use-only camp.) But while the sale of marijuana is legal under the laws of most states, in specified circumstances, its possession and sale remain illegal under the federal Controlled Substances Act.
The legal cannabis market is huge, by most estimates reaching the eight to 10 billion dollar range. The black market is almost certainly larger. Earlier this year, Barclays estimated that “the total US cannabis market, if legalized today, could be worth $28 billion.” But in the market’s current half-legal, half-illegal condition, producers and retailers have limited access to the nation’s financial system. Which is to say, they generally operate on a cash-only basis.