In Colorado Pot-Selling Pioneers Don't Get Rich Quick

Monday, June 28, 2010

Colorado is the first state where the medical marijuana business is fully regulated, licensed and taxed. Unlike California where medical marijuana dispensary owners work in nonprofit collectives, Colorado allows cannabis business owners to profit as much as possible from their sales. Colorado legalized medical marijuana in 2000, and more than 80,000 people in the state now hold medical marijuana certificates, according to The New York Times. However, tight rules and restrictions have made it hard for these businesses to thrive.

On June 7, Colorado's governor, Bill Ritter signed Amendment 1284 into law, which is expected to put many dispensaries out of business. Over the next few months, felons will be prohibited from owning dispensaries, 24-hour webcams will be required, and there will be new restrictions on business hours, licensing and labeling. Louise Story, finance reporter for The New York Times takes a closer look at the emerging market for marijuana.

Louise also looks at the impact of Sen. Robert Byrd's death on the passage of financial regulation legislation.

Guests:

Louise Story

Produced by:

Arwa Gunja

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.