A new study shows that legalizing marijuana in Maryland could mean a lot of money for the state.
The study by Nerd Wallet, a financial advisory company, found that the U.S. would make $3 billion if pot was legally sold. It then broke down what every state would get in a piece of the pot pie.
Link: Nerd Wallet’s study
Since pot is illegal in most states, it’s difficult to get concrete numbers on the amount of marijuana that’s purchased and consumed. To get an idea of what each state would get from marijuana sales, Nerd Wallet said it had to rely on how many people report smoking pot to the federal government.
The study found that in Maryland, more than 145,000 people use marijuana. Based on those findings and estimated tax revenues, if pot were to be legalized, it would bring Maryland $40,548,337, the study showed.
California would make the most at $500 million, while Wyoming, North Dakota and South Dakota would make the least with estimations of less than $10 million, the study showed.
Colorado and Washington have legalized marijuana. Soon, voters in Alaska will be asked to make the same decision. California, Washington D.C., Florida and Oregon also have pending legislation.
Maryland is currently working out kinks in its medical marijuana programs, which have yet to be implemented.
The study only mentioned revenue and did not discuss other potential issues that could crop up as a result of legalizing marijuana.
To read more on the study, click on the link above.
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