How Cannabis Legalization Could Impact Tennessee’s Economy - Part 2 Tennessee Losing Millions in Tax Revenue Due to Marijuana Prohibition Tennessee, wake up. While we sit here letting lobbyists and backroom deals keep us in the past, the rest of the country is raking in billions of dollars from legal cannabis. And it’s not just about smoking a joint — it’s about jobs, tax revenue, farming opportunities, healthcare options, and freedom of choice. The Numbers Don’t Lie Colorado has pulled in over $15 billion in legal cannabis sales since 2014, generating nearly $2.6 billion in tax revenue. That money goes straight into schools, infrastructure, and healthcare. Illinois collected $451 million in cannabis taxes in 2022 alone — outpacing alcohol tax revenue for the second year in a row. Michigan hit $3 billion in cannabis sales in 2023, with over $450 million going back into state and local governments. Meanwhile, Tennessee? Zero. Nada. Zil...
How Cannabis Legalization Could Impact Tennessee’s Economy Tennessee Losing Millions in Tax Revenue Due to Marijuana Prohibition Tennessee is sitting on a green goldmine — but instead of harvesting it, lawmakers are letting billions of dollars slip into the pockets of other states. Cannabis legalization isn’t just about personal freedom; it’s about jobs, revenue, and revitalizing our state economy. Let’s break down exactly what Tennesseans are missing out on. 1. Billions in State Tax Revenue States with legal cannabis are reaping massive financial rewards. Colorado, which legalized recreational marijuana in 2014, has generated over $15 billion in sales and nearly $2.5 billion in tax revenue. Illinois collected $562 million in cannabis taxes in 2023 alone, surpassing alcohol taxes. Tennessee, with a population larger than Colorado, could be pulling in $300–$500 million per year in tax revenue — money that could fund schools, infrastructure, and healthcare. 2. Job Creation ...