Legalizing marijuana nationwide would create more than one million new jobs within the next decade, a new study says.
Analysis from New Frontier Data, a firm that focuses on the marijuana industry, also found that the federal government would create at least $131.8 billion in federal tax revenue over the next eight years if cannabis were legalized in all 50 states.
With federal legalization, there would be 782,000 jobs created immediately, and the firm forecasts that the number would increase to 1.1 million by 2025, including growers and retailers.
In 2015, a year after Colorado legalized recreational cannabis sales, the legal marijuana industry created 18,000 full-time jobs and $2.4 billion in economic growth in the state, according to the Marijuana Policy Group. New Frontier suggested this trend could be sustainable on a national level.