If New Jersey follows through on plans to legalize recreational marijuana, analysts believe the Garden State could grow into a $1 billion market.
Democrat Phil Murphy, who was elected Tuesday as New Jersey’s next governor, vowed on the campaign to legalize marijuana and use a potential $300 million tax revenue to fund education programs and worker pensions.
Legislators there are taking him at his word. State Senate President Stephen Sweeney said he wants call a vote on an a draft bill that was written in May, and get it approved within 100 days of Murphy’s inauguration on January 16. Murphy did not return a request for comment from CNNMoney.
Getting to $300 million in tax revenue could take
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