Article by Julie Weed, The New York Times
Almost all small-business owners dream of the day when they can expand nationally. This has proved to be a unique challenge for those in the marijuana industry because the products they create are illegal under federal law, and the checkerboard of states that permit marijuana sales have complex and constantly changing regulations.
Dixie Brands, a company in Denver that creates drinks and other products using marijuana, is aiming to navigate those hurdles and become one of the first companies in the industry to build a national presence.
Voters on Tuesday brought that dream a little closer to reality. California, Massachusetts, Maine and Nevada approved adult-use (a new term for recreational use) marijuana. Florida, Arkansas, North Dakota and Montana voted to legalize or expand medical marijuana use. Twenty-eight states and the District of Columbia now have some sort of allowed use.
GreenWave Advisors, a financial research and advisory firm based in New York, estimates that marijuana product sales in the United States will be $6.5 billion in 2016 and about $30 billion in 2021, if products derived from marijuana are legalized in all 50 states in some capacity.