In second year of legal weed, California’s cannabis industry still struggles

In Second Year Of Legal Weed Californias Cannabis Industry Still Struggles

As year two of legal cannabis sales in California comes to a close, shoppers are still more likely to buy marijuana from illicit sellers than from state-sanctioned stores that pay taxes and test their products for safety.

California’s 7,000 licensed cannabis businesses — and the state’s tax revenue — are feeling the pinch.

Prominent cannabis companies that a year ago were growing aggressively have, in recent months, laid off hundreds of workers. They say hefty taxes, onerous regulations and competition from a thriving illicit market are forcing them to scale back operations.

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