With more states legalizing marijuana, Colorado could feel impact

DENVER -- California, Nevada, Maine and Massachusetts voted Tuesday in favor of legalizing marijuana for recreational use, doubling the number of states with legal pot.

The measure was voted down in Arizona. election day in history for the movement.

On the medical use side, voters in Florida, Arkansas, North Dakota and Montana said yes, bringing the total to 29 states and the District of Columbia.

Marijuana long has been a big and illegal business. That has been changing as more states, including Colorado, have made recreational use legal.

Michael Weiner with the law firm of Dorsey and Whitney, which represents many in the cannabis industry, said with more states on board, the industry will grow.

"It creates markets for Colorado companies who are in the cannabis space to distribute and license their products," he said.

Marijuana has to be grown in the state that sells it, but ancillary products such as like pipes can be shipped anywhere.

"It creates new markets, products and services," Weiner said.