WASHINGTON — February 26, 2015
Indian tribes are smelling the sweet skunky odor of another potential moneymaking venture in the marijuana business. The first Tribal Marijuana Conference is set on the Tulalip Indian Reservation in Washington state.
Delegates from more than 50 tribes in at least 20 states have registered. According to the website general admission ticket prices went for $595.00 plus a $9.95 fee. The get-together came after the Obama administration announced last year that it would not interfere with any federally recognized tribes that want to grow and sell pot on reservation lands .
One analyst warned that any tribe expecting to hit the jackpot might be in for a surprise, particularly as the supply of legal pot in the U.S. increases.
“People keep forgetting it’s a competitive market,” said Mark Kleiman, a professor of public policy at the University of California, Los Angeles, who served as Washington state’s top pot consultant. “And it’s cheap to grow.”
“In Washington state, where retail pot stores opened in July, Kleiman said pot growers who sold their product for $21 a gram only a few months ago are now getting $4 a gram.”
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Indian tribes looks to marijuana as new moneymaker
