More than two years since legal recreational marijuana sales started, Washington pot businesses have seen more than $1.48 billion in total sales, raising more than $350 million in excise taxes, according to the state.
But while sales have almost only increased, questions about the future of the market linger.
Beyond the industry-unique issues of regulation and the fact that marijuana is still illegal federally, it’s not yet clear when the market, which saw volatile prices and supply issues during its early days, will start to balance out in terms of supply and demand.
“We’re two years into a very fledgling industry, so to some extent, the sort of unpredictable nature of this industry is to be expected,” Washington CannaBusiness Association Executive Director Vicki Christophersen said.
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