Adult-Use Legalization Has Led to $7.9B in Tax Revenues for States

Adult-use cannabis legalization in the U.S. has led so far to a combined total tax revenue of $7.9 billion in states that have approved the reforms, according to a Marijuana Policy Project report. Washington state, which launched adult-use sales in 2014, has seen the most cannabis-derived income with nearly $2.6 billion in revenues from sales, according to the analysis.

Colorado, which also launched sales in 2014, has taken in more than $1.5 billion and, as of April, the state’s public schools have received $404.5 million of the total revenue generated from adult-use cannabis sales in the state.

California, where adult-use sales began in 2018 despite being the first state to legalize cannabis for medical use, has collected about $2.1 billion from adult-use sales. The state saw a 62% revenue increase from cannabis sales from 2019 – about $638 million – to 2020 when revenues reached $1 billion for the first time.

Oregon, which launched adult-use sales in 2016, has garnered slightly more than $540 million over nearly six years of sales, which 40% of revenues being distributed to schools.
Read More