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Rocky Mountain Marijuana Sales Continue to Climb

cannabis.lockelord.com
February 21, 2020

Marijuana sales in Colorado totaled nearly $1.75 billion in 2019 according to data released by the Department of Revenue’s Marijuana Enforcement Division. The $1,747,990,628 in sales includes both recreational and medical marijuana and is a sizeable increase from 2018, when sales totaled $1,545,691,080. Colorado generated over $302 million in tax revenue from marijuana sales last year, which means the state has generated over $1.2 billion in taxes since January 2014.

Colorado’s sustained growth is encouraging for the industry as a whole, but especially states like Michigan and Illinois that have recently legalized adult-use marijuana. Truman Bradley, the executive director of Colorado’s Marijuana Industry Group, offered an explanation for the increase in sales, along with a prediction for the future. “People are moving from the unregulated market to the regulated market,” Bradley said. “As reefer madness goes away, as the stigmatism of cannabis reduces and people come over to the regulated market, I would expect that trend to continue.”

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