Justin McCarthy

California Says Its Cannabis Revenue Has Fallen Short Of Estimates, Despite Gains

8/30/2019

California's cannabis excise tax generated only $74.2 million in the second quarter of 2019, the state says, announcing numbers that are short of projections that were set months ago. It's the latest sign that the country's largest marijuana market has struggled to take off since sales of recreational pot became legal last year...Compared to other states, California's legal cannabis market has stumbled rather than soared. When California moved from a loosely regulated medical marijuana system to a fully regulated retail system in 2018, it watched legal sales drop to $2.5 billion, from around $3 billion the year before... READ MORE

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