Legal Weed Fails to Displace Black Market

Legal Weed Fails to Displace Black Market

Author: The Daily News Now! June 8, 2026 Duration: 1:42
Wilmington News Today | 2 Min News | The Daily News Now!
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Legal cannabis was supposed to crush the black market—but instead, it’s fueling it. Despite rising national use, legal sales in places like California are plummeting as consumers flock to cheaper, unregulated dealers. The legal industry, ironically, is doing the heavy lifting for the underground by normalizing use and attracting new users—only to see them abandon licensed shops for illicit sources. With more inactive licenses than active ones and tax revenues collapsing, the dream of a booming, regulated cannabis economy is crumbling, leaving investors bleeding worse than the broader market.

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