Washington's experiment with legal recreational marijuana is "teetering on the brink" of a market failure. That is the candid assessment of Hayden Woodard, a state-licensed grower in Dallesport who hasn’t given himself a paycheck in a year. A stream of state-licensed marijuana operators recently testified in Olympia about how overregulation and unequal competition from unregulated medical-marijuana dispensaries are jeopardizing Initiative 502, the landmark legalization measure passed in 2012. (See also: Lawmakers propose bill to allow growing recreational pot at home)