According to a new study, local bans on marijuana businesses in California are helping the illicit market to thrive. Many industry experts point out how the local bans are depriving the state and municipalities of tax revenue that could help offset economic losses caused by the coronavirus pandemic. The report analyzes the monetary impact from the 75 percent of cities and counties that have implemented cannabis market bans despite the 2016 statewide vote to legalize the plant for adult use. The analysis shows that while there are strong demand and potential for revenue in California, which is far behind other legal states because of the widespread localized prohibitions.
– Kyle Jaeger, Marijuana Moment, 08/14/2020 11:17:54 AM