Legalized Pot Sales a Bust in California

Black market pot dealers in California can thank legislators for helping them to stay in business by over-taxing and over-regulating the legalized marijuana market.

Marijuana tax collections amounted to $234 million at the end of September, which suggests the total for 2018 will be less than half what officials predicted and less than a third of the $1 billion annual haul they were expecting within a few years.

California is regulating and taxing the hell out of cannabis, which makes it hard for legal suppliers to compete with the state’s longstanding, extensive, and highly developed black market.

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