The new year in California brings broad legalization of recreational marijuana – a much-anticipated move two decades after the state was the first to allow the use of the drug for medicinal purposes.
California joins states such as Colorado — as well as Washington, D.C. — where pot is permitted for recreational purposes even as the federal government continues to regard the drug as a controlled dangerous substance, like LSD and heroin.
Legalized marijuana is expected to become a $3.7 billion business in California in 2018 and grow to $5.1 billion in 2019 — comparable to the revenue generated by beer sales, Business Insider reported.
The boost to California’s economy could generate more than $1 billion in tax revenue for the state each year, the Hill reported.
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