ET on August 29, 2024A strange thing has happened on the path to marijuana legalization. They told me that high THC percentages do well with heavy users—the dedicated wake-and-bakers and the joint-before-bed crowd. That approach has led to legal weed markets becoming dominated by large, well-financed “multistate operators,” in industry jargon. (Notable exceptions are California and Colorado, which have a longer history with legal marijuana licensing, and where the markets are less dominated by mega-chains.) But the shift toward legal weed has tacked too far in the opposite direction.