There are problems with Colorado's law legalizing the use of recreational marijuana — but it "can work," John Hickenlooper, governor of the Centennial State, tells CBS News' "60 Minutes."
Hickenlooper, who once opposed the legislation, tells reporter John Bill Whitaker, in an interview to be aired Sunday: "I opposed it… and I think even after the election, if I'd had a magic wand and I could wave the wand, I probably would've reversed it and had the initiative fail.
"But now I look at it… and I think we've made a lot of progress… still a lot of work to be done. But I think we might actually create a system that can work."
Retail shops in Colorado have been selling recreational marijuana since January 2014 after voters approved it at the polls in November 2012.
But Andrew Freedman, the state's marijuana czar, told "60 Minutes" there have been issues with the new pot freedom, including problems with edible marijuana products.
"One of the things we didn't see coming was that people were going to overdose on edibles," Freedman said.
"New rules and regulations came out faster than I think you ever see state government do something."
The cash economy surrounding the billion dollar industry is also a sticking point, because since the federal government still considers marijuana illegal, few banks will do business with pot manufacturers and sellers.
"If you want to guarantee a fledgling industry becomes corrupt… make it all cash," Hickenlooper said. "That's as old as Al Capone, right. Cash creates corruption."
Freedman acknowledges that the cutting edge law that allows recreational marijuana use could one day be squashed by the feds.
"It’s completely possible that in a few years, somebody comes around and says, a new president says, 'we're not OK with you doing this.' "
The interview will be broadcast on Sunday (8-9 PM, ET/7-8 PM, PT) on CBS.
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