Marijuana market: High risk, high reward

Marijuana is illegal in Tennessee, but when and if the law changes, the business opportunities will be vast — along with the risks.

The marijuana market is spurring the creation of hundreds of new businesses in marijuana-friendly states, according to Taylor West, deputy director of the National Cannabis Industry Association. Those are the growers and sellers, but also the many ancillary businesses supporting the industry.

“There are quite a lot (of opportunities), given it’s a $3 billion industry and growing,” she said, speaking to a crowd of entrepreneurs at the Entrepreneurs’ Organization’s NERVE conference in Nashville on Friday.

Tennessee approved the use of cannabis oil for limited medical purposes this year. With public opinion on marijuana shifting faster than policy changes are being made, it is a matter of time before more states adjust their laws. The Tennessee legislature is expected to consider legalizing some degree of medical marijuana next year, prompting savvy entrepreneurs...

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