Colorado have made over $1 billion from making weed legal

News 14/06/2019

We're all aware that there's big money in drugs, but apparently it's not just 'cause they're illegal. 

The US state of Colorado made recreational use of marijuana legal back in 2014, and it looks like it's been pretty damn beneficial for them money wise.

According to the Colorado Department of Revenue, the total sales of cannabis products was over $6.5 billion since 2014, with the Colorado state gaining $1.02 billion in revenue from taxes, fees, and licensing for distribution to date. Dats a lot of dosh over 5 years. 

Colorado Governor Jared Polis said in a statement: "This industry is helping grow our economy by creating jobs and generating valuable revenue,"

Most of these revenues have been circulated back into the state and local economies, benefitting numerous public health initiatives, mental health services, youth literacy programming and anti-bullying campaigns in public schools. Sounds like a much better use for drug money than the usual. 

According to The Denver PostColorado has approved 2,917 licensed marijuana distribution and manufacturing businesses, and have legally emplyed 41,076 individuals to work in the marijuana industry.

Colorado was the first of the US states to legalise marijuana, and 10 others have since joined the cause. Hopefully the trend continues, NZ could def do with some extra income...