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US stock market daily report (May 01, 2014, Thursday)

May 2, 2014, Friday, 04:27 GMT | 00:27 EST | 08:57 IST | 11:27 SGT
Contributed by Millennium Traders

Marijuana-infused foods or 'edible' forms of marijuana are booming in Colorado's new recreational marijuana market. On Wednesday, a task force - consisting of members from the pot industry, health officials and state regulators - gathered in attempts to brainstorm ways to educate consumers about ingesting pot and the dangers of over consuming it. The team are also trying to create a standardized warning system on popular 'edibles', an industry term for marijuana that has been concentrated and infused into food or drink. Some consumers opt to ingest marijuana over concerns of health risks from smoking it. Since it may be difficult to find a hotel that allows 'toking' and because it is against the law to smoke pot indoors, those consumers too, opt to ingest pot. Consumers need to be educated that eating too much pot or eating too much pot, too quickly, can be potentially hazardous to their health or create a really bad experience.

Currently in Colorado, edibles must be sold in opaque, childproof containers that explicitly warn that the product contains marijuana. Retailers are banned from adding concentrated pot or injecting cannabis oil into premade food items, although such action is a common occurrence.

Dan Anglin, partner with Edi-Pure a maker of popular pot-infused candies, is pushing for warning labels and better training for dispensary employees. Anglin warned however, that rules forcing edible pot to be too weak may simply drive customers to the black market. "People do have an expectation of intoxication" when they eat pot, Anglin said.

An idea on the table is to code marijuana by strength, possibly using a color code system similar to what is used on ski slopes, a system very familiar to Colorado residents. Weak marijuana products would have green dots and the grading system would go as high as black diamonds to indicate the most potent edibles.

Colorado District Attorneys' Council Chris Halsor said, "We should have a marking so that when people come in, they know what they're getting." Colorado state lawmakers are considering legislation that would require edibles to be clearly marked and colored to indicate they contain pot. Another bill under consideration would reduce possession limits on concentrated marijuana, such as cannabis oils used in brownies or cookies. Both bills have passed the House and await Senate hearings Thursday. Current legal limits for THC, in edible pot products in Colorado is 10mg per serving, with a maximum of 10 servings per package. THC is the intoxicating chemical in marijuana. A medium-sized rolled joint of marijuana is estimated to contain about 10mg of THC although the potency of marijuana varies.