Wednesday, March 12, 2014
The Associated Press
DENVER — Marijuana legalization in Colorado and Washington could lead to big profits for people in the pot business, but industry entrepreneurs have plenty of questions about the recent votes.
After voters weighed in on election day, Colorado and Washington became the first states to allow possession of up to 1 oz. of legal pot for recreational use, but they are likely to face resistance from federal regulations.
The National Marijuana Business Conference convenes in Denver Thursday, less than 48 hours after voters approved marijuana for recreational use. Washington state also voted to make the drug legal.
Business owners and others in the industry planned two days of lectures and discussion about what the ballot measures mean for businesses. Discussions include navigating regulations and banking restrictions, along with tips for handling federal drug raids.
Speakers include the head of the Washington, D.C.-based Marijuana Policy Project. The project was the biggest funder of recent legalization campaigns in the two states.