Cedella Marley Says California Is Now The World’s Largest Legal Cannabis Market Since Voters Approved Proposition 64 In November.

Backed by a Seattle venture capital firm, Marley’s oldest daughter launched Marley Natural in 2014. Cedella Marley says California is now the world’s largest legal cannabis market since voters approved Proposition 64 in November. Marley Natural products already are available in California medical dispensaries. There is enormous opportunity for growth in the state, Cedella Marley said in an email interview. “It also carries enormous cultural significance and influence, so it will be an important place to help people understand the herb the way my dad enjoyed it,” she said. Bob Marley’s youngest son, Damian Marley, runs a competing operation, Stony Hill, and recently joined with another weed company to buy a vacant 77,000-square-foot prison for $4.1 million in Coalinga, in California’s Central Valley. They turned it into a marijuana factory. All uses of pot remain illegal under medical marijuana videos federal law, keeping most banks and Wall Street companies out of an industry that could grow from $6 billion to $50 billion in the next decade, according to the financial services firm Cowen & Co. Nonetheless, Wall Street has taken notice. Beer and spirit companies have warned investors that legal weed could threaten profits. Boston Beer Co., brewer of Samuel Adams, and Brown-Forman Corp., distiller of Jack Daniels, say they fear consumers will cut down on drinking and start using marijuana more as it becomes legal in more locales.

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