Colorado Has Some Retail Pot Competition In California

DENVER (CBS4)- Colorado has some competition when it comes to the retail pot industry. California voters legalized marijuana and sales begin New Year's Day.

It's the largest legal recreational market. Some hope California's legalization of pot may lead to changes on the federal level.

"I am hopeful with California going legal the government will take a second look at access to banking. It's just too much money to be kept in the cash business," said Starbuds owner Brian Ruden.

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For the most part banks will not touch the marijuana business in Colorado it's illegal under federal law.. That's also true in many states. California may siphon off some of Colorado's pot tourism.

"Starbuds would love to be in California once rules are established and we would love to do it legally," said Ruden.