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

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.

Nevada has generated $374 million from cannabis sales since they began in the state in 2017. In the first two months of 2021, the state had netted about one-fifth of the total tax revenues it saw in 2020.

Illinois, which launched adult-use sales six months after the Legislature approved the reforms, has already added nearly $295 million to its coffers from adult-use cannabis sales. In 2020 – the first year of sales – the state generated $174.9 million from sales and almost $120 million already this year.

Massachusetts, the first New England state to allow sales, despite being the second (after Maine) to approve the reforms, has gleaned more than $260 million from adult-use sales, which began in 2018. Through the

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