A Seat on the Titanic? – California Cannabis Sales Dropped in 2022 for the First Time Ever Since Legalization

According to the most recent figures provided by the California Department of Tax and Fee Administration, retailers made little above $5.3 billion in taxable sales of recreational and medical marijuana last year, a decrease of 8.6% from about $5.8 billion in 2021. The number of taxable sales in the fourth quarter decreased to over $1.3 billion, marking the third consecutive quarterly loss and falling by almost 12% from the same period in 2018.