Marijuana sales in Colorado exceeded $1 billion as of August of this year, with tax revenue from those sales coming in at $200 million, according to a report from the Colorado Department of Revenue and its Marijuana Enforcement Division.
It’s the earliest point in any of the four years Colorado has had legal recreational marijuana that combined medical and rec sales have cracked the billion-dollar mark.
Total combined recreational and medical marijuana sales through August hit $1,022,245,511, according to the MED, setting the state on a trajectory to break last year’s record of more than $1.5 billion in sales.
State officials highlighted the industry’s growth in a news release Thursday. The release also shared findings from the Marijuana Enforcement Division’s 2018 Mid-Year Update, released Sept. 10.
The quarterly report found Denver, Boulder, El Paso and Pueblo counties are the industry’s hot spots, growing 80 percent of all plants in the state as of June.
It also found that while sales of marijuana flower remained relatively steady, sales of edible products and concentrates like hash oil and live resin grew significantly. [Read more at The Denver Post]
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
Comment *
Notify me of follow-up comments by email.
Notify me of new posts by email.
Δ
Voters will now get to decide whether to legalize recreational marijuana in a state that has a well-established medical pot marketplace. When the Florida Supreme Court earlier this month approved a November referendum on…
The legal cannabis industry is thriving in the U.S., reaching its highest-ever number of jobs and sales, a new report shows. Vangst, a cannabis industry job platform, found that at…
Maine is the newest frontier for the illicit marijuana trade, with potentially hundreds of suspected unlicensed grow houses operating in the state, a CBS News investigation has found. It’s part…
Ten years ago this month, Iowa policymakers made it legal to use cannabis for certain medical treatment, marking the start of what would eventually become Iowa’s existing medical cannabidiol program.…