Oversupply / oversaturation. A lot of investors thought the market was going to be bigger than it was, spent too much, and then were shocked when there weren’t as many cannabis users as expected and they couldn’t achieve growth every quarter. I fully supported legalisation, as did most people, but I am not really a cannabis user — they probably expected that someone supporting legalisation equaled a potential regular cannabis user. Also, anecdotal, but out of the 5 regular cannabis users i know that I can think of off the top of my head none of them buy from the black market anymore. Two of them grow their own, which the law also made legal.

Anyway, this article kind of feels a bit like anti-legalisation propaganda. Legalisation was the right move, the lesson here is don’t overinvest in tulips.

Consumers of cannabis edibles, for example, are able to go online and find products with a potency [advertised] higher than the legal amount, Mr Smitherman said.

Addition by me. Because that is really the crux of the matter. Sure, you may see edibles advertised with 1000mg or something ridiculous, but there’s absolutely no guarantee you actually get what you pay for, without that regulatory oversight.
And then there’s the obviously flawed assumption that stronger = better.