Which Southern State Will be the 1st to Legalize Cannabis?

What’s happening? Virginia is poised to legalize cannabis, or this clever article points out, “Virginia is close to becoming the first Southern state to get a tax revenue high.”

Why is this important? The estimated revenue for legalized cannabis in Virginia is $698 million to $1.2 billion annually in economic activity and up to $274 million in tax revenue per year.

How will this be important? Virginia got to this point after the Governor created a commission to estimate the revenue potential. 12 states are currently considering some kind of cannabis reform legislation. States like New York, Connecticut, New Mexico and Hawaii could soon see legislation on governors’ desks.

CNBC | Virginia gets close to legalizing recreational weed as other states eye cannabis tax windfalls