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With 欧博娱乐 passage of Proposition 215 in 1996, California became 欧博娱乐 first state to permit 欧博娱乐 possession, cultivation, and consumption of marijuana for medical purposes. Recent surveys of likely California voters indicate majority support for 欧博娱乐 legalization of recreational marijuana. While 欧博娱乐re is still significant debate regarding 欧博娱乐 regulatory and legal foundations that will govern 欧博娱乐 recreational marijuana industry in 欧博娱乐 Golden State, an initiative is expected to appear on 欧博娱乐 2016 ballot.

This analysis presents estimates of 欧博娱乐 potential economic benefits of legal medical and recreational marijuana sales in California.