Top Pro & Con Arguments
Marijuana legalization boosts the economy.
The marijuana industry (adult-use and medical) in the United States could exceed $24 billion in revenue by 2025.For every $1.00 spent in the marijuana industry, between $2.13 and $2.40 in economic activity is generated. Tourism, banking, food, real estate, construction, and transportation are a few of the industries that benefit from legal marijuana.
The legal marijuana industry generated $7.2 billion in economic activity in 2016, and added millions of dollars in federal taxes paid by cannabis businesses.One study on adult-use marijuana in Nevada projected $7.5 billion in economic activity over the first seven years of legalization, including $1.7 billion in labor income. A study by the University of California Agricultural Issues Center estimated that the legal marijuana market in California could generate $5 billion annually.
In Colorado, marijuana brings in three times more tax revenue than alcohol.The state raised $78 million in the first fiscal year after starting retail sales, and $129 million the second fiscal year. Washington collected a total of $220 million in tax revenues in its second fiscal year of sales. Read More