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How Red Tape And Black Market Cannabis Are Buzzkills For California’s Legal Cannabis Industry

The regulated market has been a fraction of what everyone expected

It’s getting close to harvest season for one of California’s largest cash crops – marijuana. Valued at more than $11 billion, it’s worth more than the state’s grape and almond industries combined. California grows more pot than any place in the country.
 
Nearly four years ago, voters approved a ballot measure called Prop 64 in California. It made marijuana legal for anyone over the age of 21.
 
Advocates said a regulated pot industry would push out the black market and generate more than a half billion dollars a year for the state.
 
As we first reported in October, it’s not quite worked out that way. 
 

We spent a week in a region of California that should be rolling in profits, the Emerald Triangle. What Napa is to wine, the triangle is to weed. It’s Mediterranean climate and rich soil are famous for producing some of the highest quality marijuana in the world.

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