AirTalk for April 7, 2014

From grow-ops to greenbacks: the marijuana movement goes legit

Legal Sale Of Recreational Marijuana Begins In Colorado

Theo Stroomer/Getty Images

Sam Walsh, a budtender, sets up marijuana products as the 3-D Denver Discrete Dispensary prepares to open for retail sales on January 1, 2014 in Denver, Colorado. Legalization of recreational marijuana sales in the state went into effect at 8am this morning.

Ever since Colorado and Washington became the first states to sanction the use of recreational marijuana, the legalization of pot on a federal level has taken on a narrative of destiny, with interest groups forming hoping to hasten this inevitability. The National Cannabis Industry Association, a pro-legalization group, has hired its first full-time DC lobbyist to work the halls of Congress to gain support for a variety of pot-friendly bills, while startups and publicly traded companies have sprung up to hopefully cash in on the boom.

What do lobbyists want from Congress? Some investors are touting pot as the next big investment. Is it magical thinking?

Guests: 

Aaron Smith, co-founder and executive director of the National Cannabis Industry Association, a nonprofit that promotes marijuana legalization in DC

 Brad Barker, Bloomberg Industries Senior Washington Analyst who’s been following the marijuana industry

Peter Leeds, publisher of Peter Leeds Newsletter, which deals with speculative stocks and author of “Penny Stocks for Dummies” (For Dummies, 2013)


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