The US recreational cannabis industry was worth $3.7 billion in tax revenue last year

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The cannabis industry is now too large to ignore and will only get bigger

The combination of states where marijuana has been legalized recreationally is leaving unimaginable numbers when it comes to taxes. According to information provided by the non-profit Marijuana Policy Project, 2021 closed with a total of $3.7 billion in tax revenue for states where adult-use marijuana is sold.

Keep in mind that taxes generated by general medical marijuana have been completely left out of this statistic. Even so, recreational marijuana appears to be increasing at a rapid pace, as the figure marks a 34% growth in adult-use cannabis tax revenue over the previous year.

“Our report is further evidence that ending cannabis prohibition offers tremendous financial benefits for state governments,” Toi Hutchinson, president and CEO of the Marijuana Policy Project, said in a statement from the group. “The legalization and regulation of cannabis for adults has generated billions of dollars in tax revenue, funded important services and programs at the state level, and created thousands of jobs across the country.

Experts say that there are still states that do not intend to move forward with moves like these, even though the numbers are clear. These lagging jurisdictions are wasting government resources to enforce archaic cannabis laws that harm too many Americans.

This report includes up-to-the-minute tax revenue figures from last year for all states that decided to start a regulated recreational marijuana market. In addition, the report reviews each state’s adult-use cannabis tax structure and population data.

So far, a total of 18 states have been counted that made recreational marijuana within their borders a reality. Of these, eight have given the go-ahead to legalize marijuana by 2020 or 2021, but six have yet to launch regulated sales.

The increase in these figures will be evident by 2022. This is especially true as states such as Maryland, Missouri, Ohio, Rhode Island, and South Dakota are making a strong push to increase the number of new

The increase in these numbers is going to be obvious by 2022. This is especially true as states such as Maryland, Missouri, Ohio, Rhode Island and South Dakota are making a strong push to legalize recreational cannabis use this year.