The state’s efforts to legalise marijuana to make money IS taking hits…..
A glut of product….
The Feds NOT going along…..
And the illegal sales (unregulated and not paying taxes) are still around…..
The legal cannabis trade, still in its infancy, is flailing in many parts of the country as the pandemic boom that sent sales soaring has tapered off. Supply is now flooding the market in several states, economists say, depressing prices and decimating already-thin margins. And competition is sure to escalate as decriminalization spreads, large growers adopt more cost-effective technologies and the illegal market not only endures, but thrives.
The turmoil is mostly lost on consumers because weed is the rare commodity untouched by the pervasively high inflation blanketing most other goods and services. In fact, retail prices have fallen 10 percent this year in California, the nation’s largest market. It also compounds the challenges unique to this industry: Because marijuana remains illegal federally, businesses must navigate a labyrinth of overlapping regulations — creating confusion and occasionally chaos.
“It’s the worst it’s ever been,” said Tamara Kislak, owner of That Good Good Farm, a small cannabis cultivator in Mendocino County, who has worked in the industry for two decades.
“We went into this year fully knowing that we weren’t going to make money.”….