The recent legalization of marijuana in states such as Colorado and Washington has given rise to a new type of market, one in which a number of business services and opportunities are being explored. Many of these fall into a "grey" area, in which the question of legality remains open to interpretation, reports the Denver Business Journal.
The Denver listing on Craigslist, for instance, plays host to scores of posts offering marijuana-delivery services for smokers in Colorado. Each of these postings comes with a headline informing Craigslist not to flag their posting due to "illegality," as it they are "Amendment 20 and 64 compliant." This designation means the service follows the statutes set by the state's laws regarding both recreational and medicinal marijuana use, according to USA Today. To get around sale and distribution issues, the service is listed as "free" but their is the expectation, suggested in the ads, of "voluntary donations."
The work around is one that Commander Mark Fleecs of the Denver Police objects to. "They're trying to make a buck and they can't do that. It's all illegal," Fleecs told "USA Today's" Trevor Hughes.
Sam Becker of WallStCheatSheet goes into further detail about how the "grey" market that encapsulates the legal pot scene comes to fruition, most notably through the "collective garden" concept:
"The collective garden concept is integral to the entire medical marijuana industry, especially in Washington State. Every time you enter a dispensary or access point, you will be asked to brandish your identification and medical marijuana paperwork, or 'green card.' New patients are then asked to fill out paperwork, essentially becoming a member of that particular collective garden, which allows for them to take cannabis product from the storefront in exchange for monetary donations. Patients can become members of as many collective gardens as they want, providing unlimited access to the hundreds of dispensaries across the state."
Becker also points out how the "collective garden" concept is responsible for new strains of marijuana that are cultivated from two different types of cannabis: indica and sativa, some of which are bred with the specific purpose of treating particular chronic pains and illnesses.
The financial side of the pot industry is burdened not only by the increased number of products and consumers but also from bank regulations that must be compliant on a Federal level where marijuana remains illegal. All of that is forcing dispensaries to operate via mostly "cash-only" transactions.
Ultimately, Baker feels that the "grey" markets developing in Colorado and Washington State are a great example of a free-market economic system on display in our country, and is a catalyst for a new business sector that will further strengthen the American economy.
