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The state of Washington has a booming cannabis market. It s among the most mature in the country, and sales continue to rise.
That said, market concerns remain and range from excise taxes to a lack of diversity. If the state intends to continue moving forward, these issues need to be addressed.
Washington s Market Booms As Population Increases
Washington legalized cannabis in 2012, setting an example for how the industry can put tax dollars into the state’s coffers. In 2020, the state earned $469 million in revenue.
In 2019, the state generated $395.5 million in revenue and licensing fees. All but $5.2 million came from excise taxes, which are among the highest in the nation.