Legend has it that New Jersey’s greatest contribution to American rock ‘n’ roll, Bruce Springsteen, was nearly relegated to obscurity by a marijuana bust involving his bandmates.  One of The Boss’ early bands, the Castilles, was allegedly forced to break up when some of its members were caught with cannabis in Freehold in 1967. Fifty years later, it seems the Garden State’s marijuana “Glory Days” may be approaching, with legalization (in some form) on the horizon.

Governor Phil Murphy campaigned on a commitment to legalize recreational use, and although cannabis-related legislation has faced recent setbacks, supporters of legalization are renewing their efforts. Legalization, if and when it occurs, will transform New Jersey’s economy. But business owners, entrepreneurs and investors considering entering the cannabis space should not be “Blinded by the Light,” and would do well to educate themselves about the insurability of various types of exposures they may face.

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