What’s the real goal of a legal cannabis market?
If it’s to replace the illicit market, create safe access, and drive tax revenue—then why is California, the world’s 4th largest economy, failing while Michigan is thriving?

Despite California’s size and cultural dominance, cannabis sales are shrinking, cities are refusing to opt in, and the illicit market is flourishing.
Meanwhile, Michigan is seeing record growth, robust retail access, and real tax benefits flowing back to local communities.

So—who’s to blame?
Is it the regulators? The lawmakers? The businesses?
Or is the system itself fundamentally broken?

This week, we bring back Hirsh Jain to break down:

• Why California’s cannabis model is failing
• How Michigan’s success exposes the flaws of others
• Why Ohio is the political key to national cannabis reform
• The rise of the global cannabis supply chain—and what it means for the U.S.

Chapters

00:00 California's Cannabis Crisis

06:54 Regulatory Challenges and Solutions

14:07 Comparing California and Michigan's Markets

21:59 The Role of Federal Reform and Rescheduling

28:45 Navigating Political Compromises in Cannabis Advocacy

36:53 The Ohio Cannabis Landscape: Opportunities and Challenges

46:05 Texas and Ohio: A Political Triangle in Cannabis Reform

51:39 Future Predictions: The Next Year in Cannabis Legislation

Summary

In this episode, Bryan Fields and Kellan Finney engage with Hirsch Jain to discuss the current state of the cannabis industry, focusing on California's regulatory challenges, the comparison with Michigan's market, and the potential for federal reform. They explore the impact of state policies, the role of regulators, and the influence of international trends on the U.S. cannabis landscape. The conversation highlights the need for accountability and effective leadership in navigating the complexities of cannabis regulation.

Guest Links:

• https://www.linkedin.com/in/hirsh-jain/
• https://www.linkedin.com/company/ananda-strategy/
• https://www.anandastrategy.com/
• https://www.instagram.com/anandastrategy/
• https://x.com/anandastrategy

Our Links

Bryan Fields on Twitter

Kellan Finney on Twitter

The Dime on Twitter

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