Exploring The Collapse of California’s Cannabis Market: Overregulation, Over Taxation & The Future of Legal Pot
In the latest Forbes exploration, Will Yakowicz ventures into the heart of America’s cannabis country, Northern California’s Emerald Triangle, uncovering a disturbing reality. Amidst the breathtaking craggy cliffs and cool redwood groves of Humboldt County, lies evidence of a dire situation for the once-thriving cannabis industry. In July 2022, Johnny Casali of Huckleberry Hill Farms, alongside partner Rose Moberly, took drastic measures by destroying 55 pounds of grade A sun-grown cannabis—a testament to the dire state of affairs for Humboldt’s veteran cannabis farmers and a microcosm of a broader national crisis.
The Fall of the Legal Cannabis Industry
Despite grand promises and the allure of a booming market, the journey since California’s legalization of recreational marijuana in 2016 paints a grim picture. Prices have plummeted by 52 percent, leaving 95 percent of licensed cultivators op
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