Continue to Site »
Site will load in 15 seconds

Revenue Hit Predicted for California's Medical Cannabis Market

Revenue from the sale of medical marijuana is expected to drop from an estimated $2 billion in 2016 to about $1.4 billion next year.

Revenue

LOS ANGELES –  When Elias Zaldivar was an 18-year-old college freshman and decided he was in the market for marijuana, he knew just how to get it, and it didn't involve canvassing the corridors of his campus in search of that stoned-out dude who sold pot from his dorm room. Instead, he went straight to a doctor.

On a busy Hollywood street, Zaldivar quickly located a clinic specializing in medicinal pot referrals. He video-conferenced with a doctor from the waiting room and, following their 10-minute chat, a receptionist handed him an official-looking letter with an embossed gold seal that allowed him to buy medical marijuana at any California dispensary.

RELATED: Oregon’s MMJ Market Changing As Recreational Cannabis Businesses Keep Growing

Zaldivar, now a 21-year-old mixed martial arts coach, has renewed his medical marijuana recommendation each year since, always using the same health claim. He still chuckles while recalling what he explained to the doctor to get him to issue him that first prescription: "I told him I had anxiety."

In the two decades since California became the first state to allow cannabis for medicinal use, it's been an open secret that pretty much anyone who wants marijuana at just about any time can find a doctor who will recommend it for almost any reason.

Now, with recreational marijuana set to become legal Monday in California for anyone 21 and over, some people will be tossing their state-issued cards.

Read more

Top image: Eyematrix | Adobe Stock

Page 1 of 183
Next Page