California Cannabis Sales Declined in 2022

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Finalized data from the California Department of Tax and Fee Administration shows that California cannabis sales declined in 2022. And I think you’d actually collect more tax revenue.” The overall decline of cannabis sales in general has pushed some cannabis brands to leave California. In 2021, the state collected $5.77 billion in adult-use cannabis sales, but 2022 numbers reflect only $5.3 billion for the past year—an $8.2% decrease. The decrease in sales is the first dip since adult-use sales began in 2018. According to New Leaf Data Services, wholesale cannabis prices have dropped more than 50% between 2017 and 2022.

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Finalized data from the California Department of Tax and Fee Administration shows that California cannabis sales declined in 2022. The decrease in sales is the first dip since adult-use sales began in 2018.

In 2021, the state collected $5.77 billion in adult-use cannabis sales, but 2022 numbers reflect only $5.3 billion for the past year—an $8.2% decrease. According to coverage by Forbes, many believe...

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