Colorado has now generated more than $1 billion in total state revenue from the legal marijuana industry, another milestone for the state that legalized cannabis in 2014.
Colorado already has posted some big numbers: More than $6 billion in total sales of cannabis since the birth of the new industry — over $6.5 billion at the end of May, according to just-released monthly data from the state. And the state’s revenue from adult-use marijuana sales has accelerated.
April and May were the two highest-grossing months in the five-year history of the new industry, with Colorado revenue reaching its highest monthly take ever in April (which includes the 420 holiday), at roughly $24.2 million. The state’s legal marijuana sales revenue doubling from the $500 million mark to $1 billion ($1,017,120,136 exactly) took under two years, while getting to $500 million took close to three and a half years. Since July 2017, Colorado total monthly tax and fee revenue from marijuana sales has never dipped below $20 million. In February 2014, the first month with sales tracking data, total state revenue was $3.5 million. [Read more at CNBC]