Marijuana legislation is forking an abundance of new revenue over to state governments. Widely considered one of the fastest growing industries in the country, cannabis has helped bring cash to states from coast to coast.
Keep reading about cannabis, what makes it a good investment and how much each state makes from it.
Home to the namesake “California Kush” — as well as rapper and long-time marijuana enthusiast Snoop Dogg — the Golden State has become a financial ambassador for the success of legalized marijuana. The state was the first to legalize the drug medicinally in 1996 and allowed recreational usage two decades later.
One of the first states to legalize recreational marijuana, Colorado became known for its “Rocky Mountain High” — as well as the high revenue stream marijuana tourism helped bring to the state. It earned nearly $250 million in excess revenue from cannabis sales alone in 2017.
The entire marijuana industry has proved profitable for this midwestern enclave. Thanks to Proposition 1, Michigan became the 13th state to usher in legalized medical marijuana in 2008.
Even though you can legally smoke for medicinal reasons in Arizona, recreational weed is still illegal there. The latest attempt to legalize failed to pass when it received only 48.7 percent of the vote in 2016.
Click through to keep reading about how the cannabis industry is changing the economy.