Cannabis Leaders Convene In California As State Grapples With New Policy Changes
Benzinga’s California Cannabis Market Spotlight is just around the corner. This one-day event promises to provide a platform for cannabis industry professionals to engage with major players, discuss market challenges, and explore future opportunities, particularly in light of the potential federal reclassification of marijuana. Here’s what you should know about the California cannabis market leading up to this can’t-miss event.
Declining Legal Sales And Regulatory Challenges
The California cannabis market has seen a decline in legal sales, with first-quarter figures for 2024 showing the lowest sales since 2020, totaling $1.2 billion. This drop is attributed to high taxes, stringent regulations, and the thriving illicit market, which continues to undermine the legal industry. The state is also grappling with …