Recreational Marijuana Becomes Legal in California

Starting at midnight on January 1, recreational marijuana became legal in California. Cannabis for medicinal purposes has been legal for more than two decades, but this legislation signals a change for the industry. Alyssa Julya Smith caught up with MedMen Dispensary's CMO BJ Carretta to discuss the economic impact, and where some of the tax dollars will go from an industry poised to make $7 billion in the coming years. MedMen is one of only three dispensaries in Los Angeles that has received a license on January 1 to sell recreational cannabis products as the city and state are slowly rolling them out. Carretta talks about de-stigmatizing the practice of cannabis use, and how that will help grow the industry to one of the biggest in the Golden State. He also says marijuana taxes will be as high as 35%, and the state is still figuring out what will be done with the tax money made off of the sales.

More In Business

The Economic ‘Pain’ Fed Chief Jerome Powell Warned About Is Here

Data shows the economy grew less than expected in the first three months of the year, as consumers became more price conscious and spent less.

Will Live Nation and Ticketmaster Actually Be Broken Up?

The CEO of LiveOne, Rob Ellin, discusses the DOJ's lawsuit against Live Nation and Ticketmaster, how will if affect you and the future of live events. Watch!

The Future of Ether ETFs After That SEC Ruling

CoinShares CEO, Jean-Marie Mognetti, joins Cheddar to discuss what's next for ether ETFs and other cryptocurrency after the SEC surprise ruling.

The Trending, Fastest-Growing Summer Destinations Will Surprise You

From the Vegas strip to breathtaking national parks, we’re obsessed.

Nvidia's Blockbuster Run Is Just Getting Started

Nvidia did a record $26 billion in sales in the latest quarter. And get ready for the stock to keep climbing, because the A.I. boom is just getting started.

Perspective Therapeutics Is Creating New Ways to Fight Cancer

In honor of National Cancer Research Month, Perspective Therapeutics discusses its latest treatment — currently in clinical trials — that targets cancer cells d

When It Comes to the Economy, There’s ‘A Lot to Be Optimistic About’

Business is booming, interest rate cuts aren’t desperately needed, and, consumers are in what one analyst calls ‘pretty good shape.’

More People Are Making 'no-buy year' Pledges. Should You?

The self-imposed rules of a no-buy challenge are simple: participants pledge to stop buying non-essential items.

Forget Inflation: American Consumers Want Travel and Experiences

Americans may be exhausted by inflation, but they aren't holding back when to comes to spending on travel and experiences.

The U.S. Can Avoid a Recession – But Higher Prices Are Here to Stay

Companies like Target, Walmart, and Amazon may be cutting prices – but consumers should get used to paying more than they did pre-pandemic.

Load More