DENVER — Marijuana-legalization initiatives being decided by voters in November could provide a $7.8 billion economic jolt to the nation’s economy by 2020, says a new study highlighting the rush of investment into the semi-legal market.
Marijuana remains illegal at the federal level, but voters in nine states this fall will decide whether to loosen their own restrictions, with California having potentially the largest impact. Californians are voting whether to permit recreational marijuana cultivation and use, along with creating a complex system to regulate and tax cannabis, which is already widely grown and sold illegally.
A state-taxed marijuana marketplace could generate $1 billion in taxes in the Golden State alone, says the report from New Frontier Data and Arcview Market Research.
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Marijuana remains illegal at the federal level, but voters in nine states this fall will decide whether to loosen their own restrictions, with California having potentially the largest impact. Californians are voting whether to permit recreational marijuana cultivation and use, along with creating a complex system to regulate and tax cannabis, which is already widely grown and sold illegally.
A state-taxed marijuana marketplace could generate $1 billion in taxes in the Golden State alone, says the report from New Frontier Data and Arcview Market Research.
Read more
