Hollywood Celebs Cashing in on the Pot Business Despite Legal RisksSeptember 30, 2016 – Media Mention
The cannabis "green rush" often has been compared to the early days of the tech boom but, until recently, the pot industry hasn't exactly been awash with Hollywood endorsements.
That's because marijuana is still a federally illegal substance and stars with growing interest in pot businesses face legal and financial hurdles that early investors in tech didn’t.
"We wonder whether the exposure from having a celebrity name involved is effectively a neon 'look here' sign for any prosecutor who's looking to become the next congressman or senator," says a source who has advised multiple stars with pot-related ventures. Despite the risk, business managers tell THRit's getting harder to dissuade clients as California voters may legalize recreational pot use in November and California's marijuana industry is projected to hit $6.6 billion in 2020, according to research firm The Arcview Group.
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