Talk with a cross section of entrepreneurs in the Los Angeles cannabis industry, and one consistent theme emerges: The market is in tumult, plagued by black-market operators, licensing delays and a social equity program that has yet to fully take shape.
So far, the city has issued permits for 156 retail operations, all of which were grandfathered in as existing medical marijuana dispensaries. Those 156 businesses now hold a cumulative 950 licenses for medical and adult-use retail, medical cultivation, microbusiness operations, manufacturing and distribution. L.A. regulators ultimately are expected to license about 1,200 businesses.
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