It has been five years since Colorado legalized recreational
marijuana sales. In that time, the state’s seen a rise in its revenues
from taxes on cannabis, voted to use some of that tax money for public education and fighting opioid addiction, while also lowering highway vehicular fatalities. All around it’s been a big success.
Colorado’s
“experiment” with legalizing marijuana has reached a new milestone:
the state has collectively raked in over $1 billion since legalization.
CNBC reports
that the revenue Colorado is bringing in are increasing, with April and
May of 2019 showing the highest returns the Centennial state has seen,
with roughly $24 million coming in each month.
Gov. Jared Polis
explained the overall success of the legalization of marijuana at a CNBC
event recently, “It’s creating tens of thousands of jobs, tax
revenue for the state, filling up buildings for landlords and reducing
crime.”
The majority of the money brought in through taxation of
marijuana sales goes into the state’s general fund, with its way into a
variety of social programs, including education, drug prevention
programs, and treatment.
ABC News writes that Colorado records 2,917
licensed businesses with 41,076 individuals licensed in the cannabis
field. And Colorado’s ability to produce and sell marijuana is dwarfed
by the potential markets seen in California and New York and New Jersey,
all states moving in the same decriminalization and legalization of
marijuana directions.
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