Colorado's Marijuana Sales Hit The $1 Billion Mark In Just Eight Months
Colorado has just proved that marijuana is big business in the United States. Colorado's marijuana sales have surpassed $1 billion in just eight months. In 2016, the same feat took 10 months. Weed is officially a billion dollar industry.
As of August 2017, weed retailers accumulated more than $1.02 billion in medical and recreational sales. The money this has produced for the state in taxes and fees is set to be used on all sorts of projects, including housing, health, and education.
During the month of August, sales of flower, edibles, concentrates, and accessories were near $137 million, according to calculations done by The Cannabist. That's $100.3 million from recreational cannabis sales and $36.5 million from medical marijuana. It just goes to show the sheer value in recreational legalization.
This newly released data proves what cannabis advocates have known all along; that the cannabis industry can be hugely beneficial for states that legalize.
Since the state legalized recreational marijuana in 2014, Colorado's marijuana sales have been increasing annually, with the last two years surpassing the billion mark. Experts are predicting that the market will continue to grow and eventually even out as other states decide to legalize recreationally as well.
Take a look at Colorado's marijuana sales since they legalized:
Could it really be true that the entire world is shifting towards legalizing marijuana? If Colorado's marijuana sales are anything to go by, there's a lot of money to be made. It may be sad, but it's definitely true: money talks. And money is talking weed.
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