A recent report shows that last year states which had legalized cannabis for adult use cumulatively raked in more than $3.7 billion in tax revenue from recreational marijuana sales. This report follows upon an analysis of the Marijuana Policy Project released at the start of this year, which examined the total adult-use marijuana tax revenue collected by all the states that have legalized cannabis since recreational sales began in Washington State and Colorado. The organization stated that the total tax revenue generated since recreational sales began in 2014 until March of this year was about $11.2 billion. Toi Hutchinson, CEO, and president of the Marijuana Policy Project stated that this report offered further evidence that ending marijuana prohibition provided substantial benefits for state governments. In a press release, Hutchinson explained that the regulation and legalization of marijuana for adults had generated billions in revenue, created thousands of employment opportunities in the country, and helped fund important programs and services at the state level.
CannabisNewsWire, 04/14/2022 04:20:00