Some Wall Street Vets Are Betting On a Weed Exchange
- Platform operates only in Colorado and California right now
- `I look at this as an early Nymex,' former Nymex chairman says
Obstacles to Expansion of America’s Marijuana Exchange
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Legal marijuana is a $5 billion business in the U.S., and Steve Janjic figured he’d get a piece of it. With a commodity exchange. For a product that can’t be transported across state lines.
Not to worry. “It’s never easy to pioneer an industry,” says Janjic, a former foreign-exchange executive at Tullett Prebon LLC who has put $1 million into Amercanex Corp., an electronic cannabis-trading platform that handles sales of about 100 to 150 pounds of weed a week.