The Marijuana Policy Project (MPP) also said that in 2023 alone, states collected over $4 billion in recreational cannabis tax revenue—the most ever generated in a single year.

That’s despite the fact that revenue in several major states such as Colorado and Nevada declined last year. But new and evolving state markets more than made up the difference, and that trend is expected to continue as additional legalization laws are implemented soon in places such as Delaware and Ohio.