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20 Hous. Bus. & Tax L.J. 82 (2020)
"The Great Pot Experiment": A Budding Industry: Wouldn't It Be Better If It Was a Legal Billion-Dollar Industry?

handle is hein.journals/houbtalj20 and id is 83 raw text is: THE GREAT POT EXPERIMENT: A BUDDING INDUSTRY WOULDN'T IT BE BETTER IF IT WAS A LEGAL BILLION-DOLLAR INDUSTRY?1 Comment I. INTRODUCTION ........................................... 85 A. Marijuana Has Sparked Billion Dollar Investments............. 87 B. Critical Factors. ...................... ........ 88 1. Licensing Restrictions ........................ 88 2. Vertical Integration ................. ....... 89 3. Degree of Flexibility ........................... 89 II. BACKGROUND ............................................ 90 A. Federal Action ....................... ........ 90 B. Initial Attempts at Decriminalization ........ ......... 91 C. The Shift.................................... 92 D. Human & Economic Implications of the Federal War on Drugs ...................... ............. 93 E. Today's Climate ....................... ....... 94 F. How Some States Went From Reefer Madness to Reefer Gladness........................ 95 1. Colorado ....................... ......... 95 2. California ....................... ......... 96 3. Washington ....................... ....... 97 III. ANALYSIS. ............................................... 97 A. Licensing Restrictions.. .................. ........ 98 1. Priority Licensing ................. ......... 98 2. Types of Licenses ................. ......... 99 3. Overall Issuance of Licenses ............. .....100 4. Limits on Individual Licenses.......... ............101 1. The Great Pot Experiment, ECONOMIST (July 10, 2014), https://www.economist.com/united-states/2014/07/10/the-great-pot-experiment; Curtis Silver, Marijuana's $40 Billion Dollar Green Rush, FORBES (June 2, 2016, 7:35 AM), https://www.forbes.com/sites/curtissilver/2016/06/02/marijuanas-40-billion-dollar-green- rush/#3cd012f8628c. 82

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