4 states legalized recreational weed this week - here's how they'll spend the extra tax money
Marcio Jose Sanchez/AP
Americans said "yes we cannabis" on Election Day, when voters in California, Maine, Massachusetts, and Nevada passed ballot initiatives fully legalizing the use and possession of marijuana without a doctor's recommendation.
The four states, plus three additional states that approved medical marijuana programs, could inject $7 billion to $8 billion a year into the legal marijuana marketplace by 2020, according to preliminary estimates from The Marijuana Business Daily.
Newly legalized pot will have a major impact on tax revenue, though these markets may take years to get up and running.
Here's how California, Maine, Massachusetts, and Nevada plan to spend their extra tax dollars.
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