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California’s looming legal recreational marijuana market eventually will total more than $5 billion in annual sales, but the black market will continue to provide substantial competition, according to a study by the University of California Agricultural Issues Center.
Contracted by the the state’s Bureau of Marijuana Control, the study mirrors Marijuana Business Daily’s projection in May that California’s legal rec industry eventually will generate $4.5 billion-$5 billion in annual retail sales.
The university’s study forecast that legal recreational sales will make up 61.5% of California’s total marijuana market and legal medical marijuana about