Group warns legal pot is an unpredictable revenue source
High taxes, thriving black market could upset revenue goals
DETROIT – While recreational marijuana sales in Michigan are expected to initially rocket, a public policy organization has warned that legal pot is an unpredictable revenue source.
The Detroit Free Press reports that investors at the Capital Cannabis Conference in Detroit forecast Michigan's market could exceed $2 billion.
But a Pew Charitable Trusts study released Aug. 19 says high taxes -- and a thriving black market -- could upset revenue goals, as in California.
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