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- Title
The Green Rush: The Public Marijuana Securities Market.
- Authors
Scheuer, Luke
- Abstract
Over the past twenty years, more and more states have legalized the sale of marijuana. Despite its continued federal prohibition under the Controlled Substances Act, entrepreneurs and investors have rushed to be among the first to meet consumer demand for "legal" marijuana. Investors are lured by the promise of high profits and growth potential, and the belief that the first businesses to corner the market will have a return comparable to Google and Amazon, which made early investors enormous amounts of money. Unlike Google and Amazon, however, the early marijuana companies seeking to raise investor capital face a host of legal challenges stemming from the conflict between federal prohibition and state legalization of marijuana. One of the legal challenges is how to navigate the world of securities laws when a company's main line of business violates federal law. While some companies have successfully gone public, the process has not been straight forward. This article will explore the various extra hurdles standing in the path of marijuana companies seeking to go public and the investing public seeking to get rich investing in these companies.
- Subjects
MARIJUANA legalization; MARIJUANA industry; GOOGLE Inc.; AMAZON.COM Inc.; CONTROLLED Substances Act, 1970 (U.S.)
- Publication
Widener Law Review, 2020, Vol 26, Issue 1, p53
- ISSN
1933-5555
- Publication type
Academic Journal