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How California's Cannabis Industry Wound Up In Crisis Mode After 2 Years

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How California's Cannabis Industry Wound Up In Crisis Mode After 2 Years

Local bans along with high taxes have combined to create challenges for the state's legal market.

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Image credit: via Marijuana Business Daily

February 5, 2020 6 min read

This story originally appeared on Marijuana Business Daily (This is the second of three stories marking the two-year anniversary of the start of legal recreational cannabis sales in California. Part 3 will examine what industry insiders believe the future holds for the state’s marijuana industry. The first installment, which investigated the overall impact of the illicit market on California’s legal cannabis market, is available here.) 

Most industry watchers agree that California’s legal marijuana market problems stem from three main factors, which are intertwined:

A dual licensing system that requires local municipality authorization before businesses can obtain a state marijuana permit. High taxes that shrink profit margins and drive consumers to the illicit market. The ongoing success of the illegal cannabis market.

Source: https://www.greenentrepreneur.com/article/345847

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