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November 7 2012

Marijuana legalization passes in Colorado, Washington


NEW YORK (CNNMoney) -- Voters in Washington and Colorado passed ballot initiatives Tuesday to legalize marijuana for recreational use, the biggest victory ever for the legalization movement.

"The significance of these events cannot be understated," said NORML, a pro-legalization organization, in a news release. "Tonight, for the first time in history, two states have legalized and regulated the adult use and sale of cannabis."

But in many ways, it's just the beginning of the battle. Marijuana is still illegal in the eyes of the federal government, which overrules states' rights.

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