Green Rush Blues: California Cannabis After Legalization

The huge underground cannabis economy was woven into the commercial fabric of California long before the 2016 passage of Proposition 64, which legalized marijuana for adult use. Transforming a shadowy, multibillion-dollar industry into a heavily taxed and regulated structure presents unique and enormous challenges. Who will gain and who will lose under the new regime? Will the expected financial dividend from legalization be broadly distributed throughout the Golden State?