Wednesday, May 22, 2024

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$7.9 Billion in Tax Revenue from Weed so far

An absurd amount of money has been made for the government from the sales of recreational marijuana since it has become legal.

Marijuana Policy Project has analyzed the past 7 years of tax data to reach this number.

In even better news, just last year, $2.7 billion was gleaned from sales in marijuana. This shows a sharp and exponential upward trend once more states start legalizing in the years to come.

Another interesting tidbit is the huge growth in the California market. In 2020, the state took in over $1 billion, which is a 62% increase from the year before.

And then in Illinois, marijuana has outpaced alcohol sales for the first time last quarter.

All of this money is going to different channels, depending on the state.

In Oregon, 40% of the revenue is targeted towards public education, and 25% towards mental health and treatment programs. In California, $100 million has so far gone towards community groups that help the neighborhoods most effected by the war on drugs.

So much money, all good news. More to come.

Read the original at Marijuana Moment.


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