420 with CNW — California Earmarks $100M to Support Licensed Cannabis Firms During Pandemic

June 28, 2021 15:25:46

For many states with legal cannabis markets, one of the objectives of legalizing the controversial drug was to cripple the illicit cannabis market by taking away its clientele. While that sounds like a great idea in theory, most of these states have been unable to do any real damage to the illegal market so far. Not only do black market sellers tend to price their cannabis cheaply, but they don’t have to jump through a wide variety of hoops to start selling, and this ensures the black market has an unending supply of affordable cannabis.

California, for instance, legalized marijuana back in 2016, but a mere four years later, the state’s illicit cannabis market has more than three times the number of registered cannabis sellers. Consequently, the state has earmarked $100 million towards supporting its struggling cannabis industry…


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