Legal Pot Rakes It In for States

    DENVER - APRIL 20:  A man smokes a joint at a pro-marijuana "4/20" celebration in front of the state capitol building April 20, 2010 in Denver, Colorado. April 20th has become a de facto holiday for marijuana advocates, with large gatherings and 'smoke outs' in many parts of the United States. Colorado, one of 14 states to allow use of medical marijuana, has experienced an explosion in marijuana dispensaries, trade shows and related businesses in the last year as marijuana use has become more mainstream.  (Photo by John Moore/Getty Images)

    John Moore/Getty

    State economies are getting high off marijuana's legalization. Washington state's Economic and Revenue Forecast Council predicts recreational pot will bring $190 million. Gov. John Hickenlooper of Colorado said sales and excise taxes are expected to bring in $98 million in the next fiscal year, well exceeding expectations of $70 million. "Voters and state lawmakers around the country are watching how this system unfolds in Colorado, and the prospect of generating significant revenue while eliminating the underground marijuana market is increasingly appealing," said Matt Tvert, a legalization activist.

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