“Mr. Faler, a former police officer who once worked the narcotics beat, has registered more than 1,000 marijuana-related Internet domain names, including oddities like icecreammarijuana.com and marijuanapastry.com… . He is part of an Internet land grab for marijuana domains by so-called domainers who hope to sell their holdings at a profit, betting that more lenient marijuana laws will eventually drive more people to the Web for their supplies, whether they are seeking seeds, bongs, recipes or drug-laced dog treats.
… [B]uying and selling Internet domain names can be a profitable business. The industry is estimated to be worth billions of dollars. A $13 million sale is pending for sex.com. In June, slots.com sold for $5.5 million and dating.com for $1.75 million. The New Jersey company that paid over $1 million for marijuana .com in 2004 says it has turned down five offers for more than $2 million for the domain in the last 12 months.
Domainers use various strategies when acquiring domain names.”