I grew up in the california mountains. Marijuana was a notable factor in the local economy. When CA passed medical marijuana I dont recall any adverse impact on

I grew up in the california mountains. Marijuana was a notable factor in the local economy. When CA passed medical marijuana I dont recall any adverse impact on prices. My supposition is this basically used existing supply and allowed for very small scale personal production. As recently as 2010 wholesale prices were in $3000/lb range. When CO & WA legalized recreational use they followed the liquor industry producer/distributor/retailer model. This explicitely provided for large scale commercial production. By 2014-15 wholesale prices had dropped to $2000/lb or so. Today I think wholesale is down around $1000/lb on the west coast. In some shops retail prices are $1250-1500/lb. In short, yes prices have dropped precipitously in the past few years. And Id expect further decline as large commerical operations continue to grow in well regulated states. Small personal grows will still be strictly profitable. But the small "family business" black market operations are being squeezed quite hard. Caveat, numbers from memory and im not in the business myself.