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California cannabis market experiences license contraction in 2019

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Before January 2018, when California launched its legal recreational cannabis market, estimates of how many dispensaries peppered the state's landscape were in the thousands. But once state licenses were required - and with that, express local city or county approval - the number dropped dramatically, to just a few hundred. That was the first instance of serious market contraction in California, but it's far from the last as the state tries to clean up after decades of gray-market sales. All ...

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