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Colorado looks to cash in on legal pot

COLORADO (NEWSCHANNEL 3) - The State of Colorado is looking to make a profit off marijuana sales.

The federal government has finally approved Colorado to be the first state to collect taxes from the legal sale of recreational marijuana.

But the federal government is promising to stop sales if the state does not tightly control tax collection.

Some Colorado lawmakers want to turn those tax profits around to match federal funds to keep kids off drugs.

That plan calls for transferring $3.5-million from the state's marijuana cash fund to its general fund, matching the federal commitment.