The Medical Marijuana Biz Matures
The U.S. Justice Dept., at the direction of the Obama Administration, last month announced that it would no longer direct federal investigative resources to pursue criminal charges against medical marijuana clinics, providing they are operating lawfully. The policy represents a major shift in tactics from the Bush Administration, which had federal agents raiding medical marijuana distributors on the basis of violating federal statutes [federal law outlaws marijuana possession under the Controlled Substances Act] — even if the operators were in compliance with state laws.
Will the new Obama policy kick off an entrepreneurial bonanza in the 13 states [Alaska, California, Colorado, Hawaii, Maine, Michigan, Montana, Nevada, New Mexico, Oregon, Rhode Island, Vermont, and Washington] where medical cannabis is legal? Maybe, experts say, citing the proliferation of medical marijuana training centers in recent years and a plan by one California business to begin franchising the dispensaries. But while the potential for a large medical marijuana market exists, cannabis remains mired in legal ambiguities and political sensitivities that — while changing rapidly — are still difficult for entrepreneurs to navigate. Read on.
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