Business Ramifications of Legalized Marijuana: Trouble or Growth Opportunity?
By Renita Wolf, a Colorado-based financial executive and author
Though it seems unfathomable to the “Just Say No” generation, marijuana is legal, decriminalized or has medical status in 45 of our 50 United States. While the District of Columbia and states including Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon and Washington have legalized the drug within their borders, it remains illegal under federal law. Marijuana is classified as a Schedule 1 drug under the Federal Controlled Substances Act of 1970, which states that it has “no currently accepted medical use and a high potential for abuse.”
The sale and distribution of marijuana and related products are a growth business for those supplying the industry and its peripheral needs. However, not every company embraces legalization.