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Wall Street sees opportunity in marijuana

Category: Medical Marijuana | Posted on Sat, March, 23rd 2013 by THCFinder
Washington, D.C., and 18 states, including California, have already legalized medical marijuana; there are formal measures pending in 10 additional states, according to the National Cannabis Industry Assn.
 
Colorado and Washington legalized recreational marijuana use in November. In addition, a measure allowing "adult use" of pot has been proposed in Maryland, according to the association's tally. Various bills to legalize marijuana and hemp have been proposed in Congress too.
 
Although pot remains contraband under federal law, some entrepreneurs see marijuana heading down the same path as Prohibition, which banned the manufacture, transportation and sale of alcohol from 1920 until it was repealed in 1933.
 
"More and more people see the inevitability," said Brendan Kennedy, chief executive of the Seattle private equity firm Privateer Holdings, which targets cannabis-focused start-ups. "They see that the Berlin Wall of cannabis prohibition is going to come down."
 

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