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Following the money after Colorado legalized recreational marijuana

Posted at 8:22 PM, Oct 27, 2016
and last updated 2016-10-27 23:22:03-04

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.