FRESNO, Calif. (KMJ) — The Golden State’s planned legal market for recreational marijuana is expected to be worth more than $5 billion.
That’s according to a new study by the University of California Agriculture Issues Center, which also finds that about 29 percent of pot consumers are likely to stay in the black market initially, to avoid taxes and regulations.
Proposition 64 requires that all lawful pot be tested, tracked, and taxed at 15 percent.
Despite its approval by voters, several California cities have taken steps to ban marijuana shops.
The drug remains illegal under federal law.
Aaron Abeytia anchors afternoon newscasts on News/Talk 580 & 105.9 KMJ. Read More…
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