Many are watching to see if voters say yes to Proposition 19, the controversial ballot measure that would legalize marijuana in California. Advocates say it would be a moneymaker. Opponents see nothing but trouble ahead if Prop 19 passes.
Colorado is instituting tougher regulations for this booming industry. Dispensaries must now comply with rules regarding licensing, local zoning laws and criminal background checks for owners. They also have to grow at least 70% of the marijuana they sell. Stricter standards will push many out of business.
In 2007, a man was convicted of murder despite strong evidence that he wasn't the killer after three apparently very compelling witnesses matched him to the scent of the victim's clothes. Those witnesses? A trio of bloodhounds named Quincey, James Bond and Clue. I wish I was joking.
Marijuana legalization proponents can see a day when the marijuana market looks like the alcohol industry. There would a range of quality among the products offered. And there would be taxes assessed -- perhaps even heavy taxes.
New Jersey was the fourteenth state to legalize medical marijuana, but current governor Chris Christie is placing such harsh restrictions on the prospective business that some question whether it will ever get off the ground.
Colorado, where medical marijuana has been legal for a decade, recently passed new laws regulating the hundreds of dispensaries that have popped up to meet soaring demand. Not everyone there is happy about that boom, but most of these businesses probably won't last long anyway.