Still doesn't explain why legal medical marijuana sells for $480./oz. in California, does it? Who would have predicted that?
Yet some on this board will similarly say that if marijuana were legal, it would be cheap.
I would agree with them. The current situation in CA is not necessarily representative of what would happen were cannabis to be made completely legal. According to the feds, cannabis is not currently legal in CA, so how can you argue that the current price is comparable?
What is the profit margin on a pack of cigarettes? What makes you think that Altria or a similar company wouldn't add cannabis to their line? Prices are high because supply is constrained by current law. If it were to become completely legal, do you honestly believe that a plant that grows everywhere could command such premiums? It is the risk of arrest that is causing high prices.