HUGE: Federal Government Won't Challenge Colorado's Marijuana Legalization

ReutersAttorney General Eric Holder has announced that the legalization of cannabis in both Washington and Colorado will be uninhibited by federal interference, a massive overturn of decades of U.S. drug war policy, the Huffington Post reported.

Last November, voters in both Colorado and Washington authorized the legalization of marijuana.

The estimated market in Colorado alone for legal cannabis is estimated to be over $600 million, and the fast-growing industry has had a positive impact on both the local economy and state revenues.

One potential thorn in the industry's side, however, is the constant specter of federal intervention. Over the past year, federal agents have busted dozens of cannabis businesses in California, where marijuana is medically legal in some localities.

Now that the federal government has announced they do not plan on intervention, the cannabis industry will have one less thing inhibiting it.

Here's the full memo from the Department of Justice:

DoJ marijuana memo