The Green Rush is on in the Golden State. On January 1st, thousands of people waited in long lines outside the doors of many marijuana dispensaries around California.
With the 2016 passage of Proposition 64, the state became the sixth in the nation to legalize the recreational use of cannabis. While the change in the law allows local governments in California to ban or regulate the sale of recreational marijuana activity, many cities, such as Sacramento, Berkeley, and Los Angeles are eager to cultivate more revenue from existing and new cannabis businesses starting in 2018.
Although Attorney General Jeff Sessions recently announced that the Trump administration intends to revoke the Obama-era rules that allowed for state-level legalization, one thing is clear: There’s a lot of money on the table for now. California cannabis businesses are expected to generate an estimated $3 to $5 billion dollars in 2018 alone