California’s legalization of cannabis for adult recreational use was expected to be massive. In 2016, industry investors claimed sales could top $6.5 billion by 2020. And as 2019 comes to a close, California is indeed home to the world’s largest cannabis market, totaling close to $12 billion in estimated sales. But here’s the rub: $8.7 billion of that is changing hands in the illicit market.
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