Colorado’s marijuana industry is booming, but the state’s Democratic governor is still reluctant to praise legalization.
Gov. John Hickenlooper told CNBC’s Squawk Box on Friday that he’s unsure of the results of marijuana legalization in his state so far: “I think the jury’s still out. We don’t know what the unintended consequences are.”
Speaking from the World Economic Forum in Davos, Switzerland, Hickenlooper then invoked “the children”: “Can we keep it out of the hands of kids? All the top neuroscientists say this high-THC marijuana can diminish long-term memory in teenagers.”
Hickenlooper noted that he had opposed the legalization measure before it passed. “If I could’ve waved a wand the day after the election, I would’ve reversed the election and said ‘this was a bad idea,’” he said.
The governor particularly bemoaned the lack of federal regulation of the marijuana industry. “It’s been very tough,” he said. “You don’t want to be the first person to do something like this…We’re starting from scratch and we don’t have a federal partner because [marijuana] is still illegal federally.”
He also highlighted the significant challenges marijuana shops face due to banks’ reluctance to deal with a federally illegal substance. Many shops are forced to operate on cash, posing serious risks to their business. “No one wants it to be a cash business,” Hickenlooper said.
Watch the interview below, via CNBC:
