Interesting article discussing how new state and federal laws now allow Illinois businesses to raise up to $4M from non-accredited investors. In short, this will allow for crowdfunding projects much larger than those ordinarily seen on platforms such as Kickstarter, perhaps even including crowdfunded shopping centers or local business. However, some fear the legal complications of having so many small scale investors claiming interests in the business.
I think the key to protecting investors here will be diversification. Venture capital tends to be high risk, and I think it will be important that these smaller investors realize they should diversify their investments.