Pot states take fresh look at out-of-state investment
DENVER - States that have legalized pot are taking a fresh look at making it easier for out-of-state investors to get in the weed business, saying the industry's ongoing difficulty in banking means they need new options to finance expansion.
The four states that allow recreational pot sales - Alaska, Colorado, Oregon and Washington - have another big reason to take a new look at pot investment. That's California, the nation's most populous state and largest marijuana producer, though it allows pot only for people with certain medical ailments.
California voters could approve recreational pot this fall, giving the nascent pot industries in the other states reason to want to attract investment now. California has no ban on out-of-state owners, pressuring other pot states to loosen rules before California opens for business.