Marijuana entrepreneurs in Colorado recently got a reminder of the risks associated with selling a product that's technically illegal under federal law. In the end, there's no business guarantee.
Attorneys general in neighboring states filed a lawsuit last week with the Supreme Court attempting to overturn parts of Colorado's historic marijuana law. They were able to take the case directly to the high court because it involves a dispute between states.
Despite the legal tug of war surrounding marijuana legalization, which runs counter to federal law, entrepreneurs see big business potential in the growing cannabis sector and are moving forward with growth plans.
Cannabis entrepreneurs are eyeing big profit potential. The wholesale and retail cannabis industry reached $1.5 billion last year, according to the ArcView Group, which invests in cannabis businesses and collects industry data. ArcView had forecast the sector to grow to $2.6 billion by next year and to expand to $10.2 billion by 2018.