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Cannabis revenue coming up short

A flowering marijuana plant in a California destined to be used for medicinal purposes in California. (Photo: PRO Stock Professional

The California cannabis conundrum: A lot more weed, a lot less money. Since Proposition 64 took effect earlier this year, the cannabis industry has raked in nearly $135 million of revenue for the state through sales taxes, not including local jurisdiction taxes. Even with increased sales each quarter, some officials are calling the revenue “substantially below projections.”

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