CO Pot Industry in “Massive Makeover” While Awaiting Word on Federal Policy


The pot industry in Colorado is undergoing a massive makeover as it prepares to begin selling marijuana for recreational use legally under state law, reports the Washington Post. Businesses are ramping up production, and trade associations are cleaning up their image, anticipating what could be a billion-dollar industry. The entrepreneurs who are hoping to cash in on the “green rush” starting next year are struggling with the unique challenges of conducting a business that the federal government considers a crime. Pot producers and retailers are having trouble getting business financing because banks won't give them loans or even an account. State lawmakers are about to shake up the marketplace in unpredictable ways with regulations covering everything from the shape of containers to the labeling required for pot-laced brownies and other “infused products.” Business owners say they're anxious about the intentions of the federal government, which could seize millions of dollars they have invested or even send them to prison. Attorney General Eric Holder said that he would soon announce a response to the initiatives in Colorado and Washington last year legalizing pot for recreational use.

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