Nevada regulators and industry insiders say the state’s first year of broad marijuana legalization has exceeded even their highest expectations, with sales and tax collections already surpassing year-end projections by 25 percent.

Numbers from June are still outstanding but are expected to push taxable sales past $500 million, netting total tax revenue in the neighborhood of $70 million — with about $25 million devoted to schools.

“I think it has been a huge success, and I don’t see how anyone could argue with that,” said Andrew Jolley, president of the Nevada Dispensary Association.

– Read the entire article at ABC News.