Regardless of your feelings about legalizing marijuana, it’s hard to deny that legal weed would be a bonanza for cash-strapped states, just as tobacco and alcohol already are.
With Colorado and Washington starting to tax and regulate recreational weed sales, and medical marijuana legal in 18 other states, we can finally start to put some hard numbers on the industry’s value.
$1.53 billion: The amount the national legal marijuana market is worth, according to a Nov. 2013 report from ArcView Market Research, a San Francisco-based investor group focused on the marijuana industry.
$10.2 billion: The estimated amount the national legal marijuana market will be worth in five years, according to that same ArcView report.
$6.17 million: The amount of tax revenue collected in Colorado on legal marijuana sales in just the first two months of 2014.