By Reed Hennessy
Sports Editor

Colorado has officially become the first state to allow retail recreational marijuana sales to adults aged 21 and over. With around 37 dispensaries around the state the first week’s sales yielded five million dollars in sales. Although according to law consumers are not allowed to smoke marijuana out in public, regardless sales have been skyrocketing.

“I personally have always believed in the complete legalization of marijuana, the state of Colorado made the right call,” said Neshaminy junior, David Moffit.

Residents of Colorado may purchase up to an ounce of marijuana in a transaction, out of state residents may purchase up to one-fourth an ounce. Of course with the legalization of marijuana many problems are being presented from a socio-economic perspective. The Department of Justice has said it won’t interfere with Colorado’s legalization laws, if they can prevent out of state distribution, selling to minors, etc.

“With revenues of five million dollars the federal government needs to re-asses the legalization of marijuana from an objective standpoint,” said senior Mark Henry.

However, these dispensaries are not operating like a normal business would. Owners cannot not open traditional bank accounts, take advantage of normal tax write offs, in fact many of these dispensaries will not be profitable until another year or so. The Denver city council has been urging bank regulators to allow Colorado dispensaries access to the federal banking system, so they can operate as any other normal business would.

“”People think we all became millionaires,” Joaquin Ortega co-owner of Denver Kush Club dispensary, said in an interview with the Huffington post. “But as a business owner, I can’t write anything off for the last three years.”

Rep. Ed Perlmutter, Democrat from Colorado is pushing his Marijuana Business Access to Banking Act, which many have regarded as a reasonable economic approach. This bill would create protections to banks offer their services to these state sanctioned businesses. Until it is legal for banks to deal with these dispensaries, these businesses will be dealing with mostly cash and operating entirely on their own.