All that staying home was apparently good for the weed industry. In 2020, US cannabis sales hit a record $17.5B, per Forbes.
But a new report from the Marijuana Policy Project found that states are also profiting.
The 18 states that have legalized recreational cannabis have raked in $10.4B in tax revenue since 2014. A few examples:
… but cities pull in money, too.
Denver has generated $237.5m.
California’s West Hollywood sees itself as a future Amsterdam. It currently has 6 dispensaries in 1.8 square miles, generating $2.2m a year.
Every state is different, but many support schools, infrastructure, or nonprofits.
California has given ~$100m to organizations that work with communities harmed by the war on drugs, per AP News.
Michigan generated $45.7m in 2020 from excise taxes and fees, which it splits between its School Aid Fund, the Michigan Transportation Fund, municipalities and counties, and admin costs.
According to a Pew Research study, an overwhelming number of Americans believe marijuana should be legalized in some form. According to the study, U.S. adults (91%) say either that marijuana should be legal for medical and recreational use (60%) or that it should be legal for medical use only (31%). Fewer than one-in-ten (8%) say marijuana should not be legal for use by adults.
The new survey, conducted by Pew Research Center from April 5-11, 2021, comes as Congress considers legislation that would decriminalize marijuana nationally.
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