While it is probably way too early to make a definitive assessment, it has been six months since marijuana became legal in Colorado, and so far all the signs are looking good:
- Overall crime has dropped 10% from this time a year ago, and violent crime has dropped 5.2%.
- In the first four months, the state received over $10 million in tax revenue from retail sales.
- In addition, the state estimates it will save $12-40 million over the first year just by ending arrests for possession.
- Unemployment has dropped because of new jobs created.
- Polls show that a majority of the state residents think making marijuana legal was a good thing.
Libertarians should be rejoicing. Marijuana became legal and the sky didn’t fall. I expect that other states will follow suit, albeit slowly.