New Year's Day marked marijuana's entry into the legitimate free market as Colorado became the first U.S. state to allow retail pot sales, and the nascent industry already sees potential supply issues and price increases, the Denver Post's marijuana editor told CNBC on Thursday.
Ricardo Baca, recently named editor of theCannabist.co, said he saw one retail pot dispensary raise the price of an eighth of an ounce of grass to $45 from $25 in the face of high demand.
Another dispensary began limiting purchases to an eighth of an ounce so that it could serve more customers, he added. Under Colorado's new pot laws, out-of-state residents can buy up to one-quarter of an ounce, while state residents can buy an ounce.
(Read more: Chart of the Day: Is pot cheap now in Denver?)
"It was interesting to see the free market take over here," Baca told "Squawk on the Street" on Thursday. "It wouldn't surprise me if we saw a shortage of marijuana in Colorado."