WOW! The first estimate of the effect of legalizing marijuana in CA will result in $5 billion dollars into CA's economic, according to a state sponsored study. Now certain the tax revenue is a good news for CA residents, there are many hidden upside for legalizing marijuana beside the dollars. Here they are in a nutshell:
It makes the drugs safer overall for consumers
By legalizing weed, it basically means the government will legalize, taxed, and regulated this drugs. This means there will be a safety standard that all legal marijuana has to meet in order to be sold. This will reduce the risk of any serious side effect from the drugs, just like the FDA regulating the food in super market.
It hurts the drug cartel in CA
If people can get the weed legally, and it is safe, it basically eliminate the market demand for illegal weed from drug cartel. Hurting the bottom line for the cartel will certainly take away its power and influence in CA. It is the easiest way to win the so called "war on drug".
It reduces the prison population in CA
If people won't get arrested and sent to jail for just buying & consuming weed, prison population will decrease drastically since most of the inmates are no violent drug offender. They might actually have a chance to be productive member of society instead of costing tax payers money to keep them in jail, for smoking!
Obviously, CA is one of the most progressive states in USA, and it is leading the fight on this issue. Hopefully we can see the date where marijuana become legal nationwide. However, please note the the AG Jeff Session is not friendly to marijuana, and marijuana lovers will have to continue to apply pressure to get it passed. Not only that, since it is not legal yet at the federal level, they will have to stay vigilant and keep the legalization from any attempt to overturn it.