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CNBC: A Look Inside the Black Market for Weed Shows the Huge Threat to Legal Businesses

The illegal market in cannabis totals about $70 billion nationwide, seven times the legal market, according to New Frontier Data.

Marijuana Joint Bud Adobe Stock Credit Pattersonic Resized
pattersonic | Adobe Stock

LOS ANGELES - The parking lot outside a stark-looking dispensary on a busy Los Angeles street is almost full on a weekday afternoon. Inside, jars of weed line the shelves behind a counter and colorful signs show prices. But if everything looks normal, it isn’t.

The dispensary is part of a booming black market.

“The black market is a huge problem,” said Patricia Heer, an attorney and founder of Cannabis Law Digest. “In some states, it’s between 70 and 80 percent of sales.”

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