TEXAS: Marijuana is illegal in Texas, but that didn’t stop suppliers and investors of the legal marijuana trade from coming together at the Westin Hotel in Memorial City.
More than 100 people attended the two-day Marijuana Investment Conference on Oct. 5-6, the first of its kind in Texas.
“We feel there is a very close parallel between the typical Houston high net worth oil and gas investor and the cannabis investor,” said organizer Doug Leighton. “Very high risks, but very high reward.”
Leighton is with Duchess Capital, the main sponsor of the event. He said the event was not about lobbying to legalize marijuana.
“The illegal market for marijuana is $50 billion a year, the legal market is $1.4 billion, so that gap has to be narrowed,” Leighton said.
One of those hoping to meet with investors was Dr. Elias Jackson, who runs a Houston-based biotech firm.