California's legalization of cannabis for adult recreational use was expected to be massive. In 2016, industry investors claimed sales could top $6.5 billion by 2020.

And as 2019 comes to a close, California is indeed home to the world's largest cannabis market, totaling close to $12 billion in estimated sales. But here's the rub: $8.7 billion of that is changing hands in the illicit market.

Now, members of California's cannabis industry are sending an S.O.S. to the state capitol... READ MORE