HOUSTON, Tx. -- Weed could be the next cash crop in Texas, maybe not from growing it, but by selling it.
Douglas Leighton with Dutchess Capital explains, "Right now the legal market in the United States is about $1.4 billion per year and the illegal market, the black market for all goods and services including ancillary items and actual marijuana is about $50 billion."
Close that gap, and there`s a ton of money to be made from legalizing ganja.
No wonder a Marijuana Investment Conference is taking place in Houston on October 5-6. Could H-Town become the Mecca for for pot entrepreneurs if the stuff is ever legalized here?
Gold Darr Hood with Marijuana Investment Conferences says, "The idea is to really show the strength and economic opportunity that will also be available to Texas when it legalizes some form of marijuana, which is expected to happen as early as next year and certainly by 2016."
At the South Texas College of Law they`re already drafting legislation for legalizing pot. Rehman Bhalesha, a graduate student who is working on those drafts, says, "If legislators pass statutes giving them guidance on how they can legally make money while still adhering to legal principles, I think that would be very beneficial."
If cannabis becomes legal in Texas, then there are plenty of folks poised to get high on profits.