According to the most recent figures provided by the California Department of Tax and Fee Administration, retailers made little above $5.3 billion in taxable sales of recreational and medical marijuana last year, a decrease of 8.6% from about $5.8 billion in 2021. The number of taxable sales in the fourth quarter decreased to over $1.3 billion, marking the third consecutive quarterly loss and falling by almost 12% from the same period in 2018.