North Carolina's "bathroom bill" will cost the state more than $3.76 billion over the next dozen years, according to an Associated Press analysis.
The law, which requires that people use the bathroom that corresponds to the sex on their birth certificates, has already resulted in lost business.
Several artists have pulled out of concerts scheduled in North Carolina, and the NCAA avoided the state as a host site for its annual basketball tournament.
The AP used interviews and public records requests to compile its analysis. The news outlet said it is likely underestimating the actual cost of the law.