It’s no secret that African Americans and Latinos have borne the brunt of the war on drugs, facing far higher arrest and incarceration rates than Whites. So as annual U.S. sales of legal marijuana head toward $43 billion by 2025, it’s a cruel irony that the now-legit industry is dominated by Whites, with just 4% of pot shops owned or founded by African Americans.
To understand the scope of the problem, we spoke with Khadijah Adams, co-founder of C.E. Hutton LLC, a Denver financial firm that seeks to give minority entrepreneurs the tools they need to succeed in the legal cannabis market. The company has helped more than 15 Black-owned companies get off the ground. Here are edited excerpts from our conversation.
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