Amidst a national conversation on social media, Colorado stands at a legislative crossroads with SB 158, the “Social Media Protect Juveniles Disclosures Reports.” Though its intentions to create age-appropriate experiences for teens online are commendable, the bill could lead to a host of unintended consequences, posing a threat to the innovation that has been pivotal to Colorado for more than a decade, especially within the cannabis industry.

As both an advocate and leader in the cannabis sector, I have observed firsthand its transformative impact on our state’s economy, culture and the well-being of our residents. But SB 158’s approach endangers Colorado’s leading position in cannabis and psychedelics. It directly hits our state’s pioneering spirit, risking further innovation and possibly harming those who could benefit from their use.

Stay up to speed: Sign up for daily opinion in your inbox Monday-Friday

The cannabis industry has emerged as a beacon of progress, spurring economic growth and job creation while leading in responsible consumption and health-centric solutions, such as treatments for anxiety or PTSD. However, SB 158’s restrictions on social media could severely limit their ability to innovate and share valuable information about the benefits of cannabis products.

Among SB 158’s problematic provisions is the mandate for social media platforms to remove any user “who promotes, sells, or advertises an illicit substance.” This broad and ambiguous categorization within SB 158 not only blurs essential distinctions on state legal standing on cannabis but could also make it unlawful for businesses to promote and for individuals to discuss the benefits of these products online. Together, this may infringe upon First Amendment rights while harming the digital innovation critical to Colorado’s growth.

Though a recently amended version of the bill attempts to address this problem by carving out industry cannabis and hemp, compliance will be complicated, expensive and time-consuming. If it passes, cannabis companies will effectively be preemptively banned while they navigate complying with the new law. Some may avoid it all together because of the compliance costs and risks of ending up on the wrong side of untested legislation.

Though the imperative to address teen social media use is understandable, SB 158’s approach, which inadvertently penalizes the cannabis industry, is fundamentally flawed.

Champions of digital innovation and the cannabis industry, like Gov. Jared Polis and others in the legislature should reject SB 158. We must find a balanced solution that does not force us to choose between safeguarding youth online and preserving the right for businesses to engage in the digital world – especially for an industry that has proven to be so valuable to Colorado.

The governor’s office has clearly stated his position that “a free and open internet is a fundamental driver of innovation.” Colorado must maintain its innovating spirit by rejecting SB 158 and advocating for policies that sustain our leadership in innovation and economic growth. Let’s not allow misguided attempts at protection to undermine our achievements and freedoms.

Wanda James is a former naval officer, former Fortune 100 executive, chief executive of Simply Pure Dispensary in Denver and a current University of Colorado Regent.