The legalisation of marijuana in parts of the United States is creating big business opportunities.
There has been an explosion in the number of companies taking advantage of changes in the law, allowing the sale of medical marijuana to relieved pain, but also for recreational use in Colorado and Washington state.
The law is complicated, with a ban still in force under US federal legislation, but money is flooding in to new business ventures – both growing and retailing.
Private equity firms are raising millions, focusing initially on the medical marijuana market in the US.
That is worth $2.5 billion dollars this year, growing to $9 billion in two years.
But it is also a case of investor beware: in the US Financial Industry Regulatory Authority and the Securities and Exchange Commission have both warned about medical marijuana company shares.
Marijuana Business Daily’s Chris Walsh pointed out they are mostly traded on the over-the-counter market that is lightly regulated and sometimes involve people with questionable backgrounds…
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