The small state of Colorado, population 5 million, has just recorded total cannabis tax revenues exceeding half a billion dollars ($500 million). Its a remarkable statistic which shows the benefits of cannabis legalisation. Colorado legalized cannabis in Jan 2014, so the extra half billion dollars in state tax revenues has taken just 3 years to accumulate. Its a major boost to Colorado politicians who can use the revenues for improving the state finances. But around half the US states still have cannabis prohibited, a legal situation that costs millions to enforce while the tax-free cannabis revenues go directly to the black market where it can be used to amplify black market criminal activities. Many other US states are carefully monitoring the financial windfall which accompanies cannabis legalisation.
According to Colorado officials, most of the cannabis tax revenues came from recreational cannabis sales, and most of the money was spent by the state education department on schools.
July 21st 2017