AUBURN, Wash. -- In a horse betting facility in a Seattle suburb, hundreds of the most influential people in marijuana are gathering to see what could be the future of an industry that's only recently become legal.
At the 2nd annual National Marijuana Business Expo groups from across the country are pulling together ideas and products that could mean millions of dollars in new business.
"We're seeing serious business money come in, Wall Street kind of money, corporate money of course they weren't going to touch an industry like this even three years ago." said Fritz Chess, the founder of a Washington based company looking to capitalize on the state's legalization of marijuana.
The two-day event, which wraps up on Friday November 8th, also offers companies and enthusiasts the chance to meet with industry leaders who continue to push for legalization across the country.
"Come January 1, we're entering a whole new era in Colorado and we're going to be the test case for the rest of the country and the rest of the world and if we do this right, this business is going to become billions and billions of dollars," said Chris Walsh, the organizer of the expo.
On display at the convention, companies were proud to show off new cannabis products including marijuana vending machines, infused gum, and consumer grade heat lamps for personal growing.
In 2012, Denver played host to the first convention by the group Medical Marijuana Business Daily. The demand for cannabis products and industry information organizers said has grown fast enough that this year's convention sold out before it began.
"It''s so exciting to see these promises fulfilled to see that we're able to create jobs and reduce arrests." said Betty Aldworth of the National Cannabis Industry Association and a leader in the legalization of marijuana in Colorado.