COLORADO: On New Years Day, Colorado became the first state to legalize the sale of recreational marijuana. The new legislation has provoked a Denver-bound flood of “Ganjapreneurs” and kickstarted what is sure to be a very profitable pot tourism trade.
Yet the business is far less hippie and far more button-down than it appears.
The Colorado state government enforces the sale of marijuana with a set of regulations (500 pages in all) designed to shut out the black market. For one, it stipulates digital tracking of marijuana plants from seed to sale, using radio frequency identification (RFID) technology.
The cannabis industry is generally eager to comply with even the most stringent government regulations, thereby proving the marijuana market can be both lucrative and legitimate. However, implementation problems have slowed the retail pot business’s anticipated boom.