Tax revenues derived from the licensed retail sale of state-legal, adult-use cannabis products grew by more than 30 percent between 2020 and 2021, totaling over $3.7 billion last year – according to an analysis provided by the Marijuana Policy Project.
MPP’s figures do not include revenues derived from the sales of medical cannabis products and/or the collection of state-imposed regulatory fees.
Toi Hutchinson, president of MPP, said that the data provides “further evidence that ending cannabis prohibition offers tremendous financial benefits for state governments.”
Adult-use sales generated the greatest amount of revenue in California ($1.3 billion), followed by Washington, Illinois, and Colorado.
Since 2014, retail sales of adult-use cannabis products have generated $11.2 billion dollars.
Full text of the report, “Cannabis Tax Revenues in States That Regulate Cannabis for Adult Use,” is available online.