California’s Legal Weed Is So Heavily Taxed and Regulated That the Black Market Might Survive

Granted it is 2 steps forward for one back. But man, big government people just screw up everything when it comes to markets. (And most other things.)

(From Reason)

What we found was surprising: Cannabis entrepreneurs are anxious about the future of the legal market under California’s highly regulated and highly taxed system. Under these conditions, some industry insiders expect the black market will continue to thrive.

“The situation in the market is pretty dire,” says Kristi Knoblich Palmer, COO and co-founder of KIVA, which recently had to lay off employees for the first time in its history. “That has everything to do with the cost of cannabis to the end consumer.”

Pot basically costs almost nothing in an actual free market.