"I would very much like to invest" in the booming business of legally selling marijuana for recreational use in Colorado, said venture capitalist and investor Kevin O'Leary.
"My lawyers tell me a different story right now," he lamented Wednesday on CNBC.
Known as "Mr. Wonderful" on the reality show "Shark Tank," O'Leary said he's torn between what's like "getting an opportunity to get into alcohol after Prohibition just ended" and the possible downside of running afoul of the federal government.
"We don't have a federal mandate to legalize marijuana yet. We have state initiatives," he said in a "Squawk Box" interview. "I need to be told by the government federally that it's OK to support this industry."
(CNBC will debut a new special report, "Marijuana in America: Colorado Pot Rush" on Wednesday night at 10 p.m. ET/PT. #PotInAmerica)