WASHINGTON - Earlier this year, Washington, D.C. legalized recreational marijuana. Despite efforts by Congress to block the move, the decision went through and has resulted in big business for some risk-taking entrepreneurs.
But is the risk worth it and what should you keep in mind before delving into the world of pot?
A summit this week in the District, hosted by High Times Magazine, hopes to clear up some of those issues.
David Kohl, CEO of High Times Magazine, said it’s an exciting to time to be in the D.C. and that the goal of the summit is to educate and inform.
"Anyone here in D.C. can come and learn and understand what is happening elsewhere, so when it does flip and switch, and there are more opportunities here, they can definitely benefit," he said.
But what gets the ears of lawmakers might be the projected tax amounts for the District. In Colorado alone, Kohl said, the state is projecting revenue of upwards of $125 million.
Marijuana 101: What’s legal in D.C.:
-21 Years Of Age Or Older
-Can Possess 2 Ounces Or Less
-Cultivate Within Primary Residence Up To 6 Plants
-Use Marijuana On Private Property
-Transfer 1 ounce or less to another person as long as:
- No money, goods or services are exchanged
- The recipient is 21 years of age or older
The summit will be held from December 14-16, 2015 at the Washington Hilton. Get more on the summit: http://www.hightimesbusiness.com/#business-summit-speakers