New Frontier Data Study Predicts Nearly $130 Billion In Tax Revenue From Cannabis Legalization

According to a new report titled Cannabis in the U.S. Economy: Jobs, Growth and Tax Revenue, 2019 Edition by New Frontier Data, the legal cannabis industry may have a significant impact on tax revenue and projects. New Frontier Data projects that full federal legalization could produce nearly $130 billion in tax revenue and it could create over 1 million jobs.

New Frontier Data CEO Giadha Aguirre de Carcer shared in the press release announcing the report.

“With so much speculation about economic slowdown, the potential for federally legal cannabis to create up to a million new jobs and close to $130 billion in tax revenue is likely going to be of interest to regulators and presidential candidates in 2020.” She added, “Cannabis is already being considered as an investment option for forward-looking portfolio and fund managers as a possible hedge against economic downturn impacting more traditional investments.”