As Nevada voters consider legalizing recreational marijuana, a lot can be learned from Colorado as we continue our series in the state.
Lots of money has been pouring into Colorado since the state legalized marijuana. It is now a nearly $1 billion industry.
From armed security guards, sales staff and people tending the crop, the marijuana industry now employs an estimated 29,000 people.
Last year, marijuana generated about $135 million in state taxes, a drop in the budget of Colorado, which is $26 billion.
Andrew Friedman, Colorado's marijuana czar, cautions Nevadans to lower expectations of financial windfalls.