Colorado voters in 2012 approved a constitutional amendment broadly permitting the sale and use of marijuana for adults. Sales began in 2014 and since then it looks like Colorado which has just tabulated its combined cannabis sales (medical and recreational), have surpassed the $6BN mark. That’s an economic boon by anyone’s accounting and that's not including industry-adjacent revenues.
It is also worth noting that Colorado recreational sales have increased as medical sales have declined. That could be attributed to people abandoning the pretense of medical use for their true desire: recreational use. But the true concern is that resources nationwide will slowly be diverted from the profitable recreational side from the more compelling and necessary medical side.
According to the Colorado Department of Revenue, more than $1.54 billion of marijuana for medical or adult use was sold during 2018.
That is the highest one-year total for sales figures since 2014, but the pace of growth has slowed over time. In 2018, sales increased about 2.5 percent compared to 2017.
The state collected $266.5 million in taxes on marijuana products and other industry fees in 2018. That’s up from 2017, when the state collected $247 million.
Colorado voters in 2012 approved a constitutional amendment broadly permitting the sale and use of marijuana for adults. Sales began in 2014.