Two years after California began licensing pot shops, the industry remains so outmatched by the black market that a state panel recently joined some legalization supporters in calling for significant changes.
Two years after California began licensing pot shops, the industry remains so outmatched by the black market that a state panel recently joined some legalization supporters in calling for significant changes — perhaps turning again to voters to address the problems.
Proposition 64 legalized growing, selling and using marijuana for recreational purposes in November 2016, and the state began issuing licenses on Jan. 1, 2018. Officials originally estimated the state would take in $1 billion annually in tax revenue from cannabis, but the fiscal year that ended in June saw just $288 million collected. The current state budget projects $359 million in tax collections.
The legal marijuana industry’s struggles, including being banned from some cities, have been blamed for workforce reductions at major cannabis firms, including Eaze and Flow Kana, both of which recently cut 20% of their staff, while Weedmaps pared its workforce by 25%. “They’re able to undercut the price of the legal market and sell whatever, whenever, to whomever,” said Kevin A. Sabet, president of the national group Smart Approaches to Marijuana. “Did we really think they’d just disappear?”
William G. Panzer, an Oakland attorney who was co-author of Proposition 215, which legalized medical marijuana in California, called the current licensing system a “nightmare.” Some backers of Proposition 64 say it is too soon to panic and roll back taxes and regulations meant to protect consumers and the environment.
Some law enforcement officials remain concerned about the system set up by Proposition 64, arguing the persistent illicit market is a threat to public safety.
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