With changing attitudes towards marijuana, Jason Spatafora, the self titled “Wolf of Weed Street” talks about expanding pro-marijuana legislation in places like Alaska, Florida and Delaware, in addition to nearly half of all U.S. states that don’t come down so hard on the weed.
Marijuana is no longer taboo. And with money driving government policy, states see marijuana as a great source of tax revenue. Colorado, for example, brought in $40 million in marijuana-related taxes in the first four months of 2015 – so that’s about $120 million annually and rising – which is a significant incentive for states to legalize the drug. In addition, with de-criminalization, states are saving money on incarceration and making money on fines related possession restrictions – so it appears marijuana is a winner for state coffers. So what’s in store for the weed – is this going to be a new major market like cigarettes and alcohol, or are some states going to draw the line?