This CEO Says Marijuana Will Be Federally Legal By 2022

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RELATED: Is Legal Marijuana The Economic Relief America Needs Post-Pandemic? No doubt the weed-related revenue numbers legal states enjoy look attractive to those in distressed states. Pennsylvania and New York lawmakers have also suggested marijuana as a possible tax revenue solution to looming budget deficits. The Marihuana Tax Act, which effectively started cannabis prohibition in America, was signed into law in 1937. Colorado, which approved adult-use marijuana in 2012, surpassed $1 billion in cannabis revenue last year and collected more than $133 million in taxes and fees between January and May this year.

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“I’ve seen some really large numbers in terms of the amount of cash flow that would come into the government as a result of just a normal excise tax regime.”

State lawmakers have proposed marijuana legalization as a needed economic injection following the coronavirus pandemic. Should states continue to legalize, one top cannabis executive believes the feds will soon be forced to end prohibition nationwide within the next couple years.

“My assumption is that 2022, for me, is the magic number,”...

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