LESSON ONE: DON’T BE TIMID
Public officials in the pioneering marijuana states were flat-footed when voters made pot legal.
At first waiting for a possible federal lawsuit, then trying to figure out how to monitor and tax a product that had never been fully regulated anywhere in the world, the states spent many months coming up with rules for how the drug should be grown, sold and consumed.
The delays were understandable. But they led to one of the biggest disappointments of the marijuana markets — lower-than-hoped tax collections.