“Don’t break out the Cheetos or the Goldfish too quickly,” Gov. John Hickenlooper of Colorado said to his constituents on Nov. 2, after they voted to legalize marijuana for recreational ­purposes.

Although this insurance niche is buzzing with opportunity, Hickenlooper’s cautionary words speak to insurance agents as well. As more states approve medicinal marijuana, the industry is still illegal, according to federal law.

Also complicating matters: States that have legalized medicinal marijuana (MMJ) have different laws about its cultivation, distribution and manufacturing.

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