SEATTLE -- An initiative to legalize and tax marijuana in Washington state has received $1.25 million in new donations.
The Seattle Times reports that Initiative 502 raised the money over the weekend from just four donors, including $450,000 donations from Progressive Insurance founder Peter Lewis and an arm of the New York-based Drug Policy Alliance.
Campaign manager Alison Holcomb said the donations will pay for a $1 million TV-ad blitz in August.
I-502 is on the November ballot. It would legalize possession and sale of up to 1 ounce of marijuana. It would also impose a steep excise tax on marijuana and cannabis-infused products at new state-licensed marijuana stores, and would allow state-regulated grow farms.