Colorado Marijuana Sales Tops 6 Billion Dollars
Colorado's legal marijuana market is smoking California's in sales and taxes.
Since being legalized in 2014, marijuana sales in Colorado has gone over 6 billion in sales.
That amount represents both medical and recreational marijuana sales since New Years Day, 2014.
Medical sales, however, have declined since 2016, while recreational sales have increased significantly.
In 2018 medical marijuana sales dipped from $416 million to $332 million, a 20 percent decrease from the previous year's sales. Recreational sales, however, have seen sales raise top over $1.2 billion dollars.
Taxes from the sale of marijuana for 2018 was over $266 million for 2018, an increase from the previous year's total of $247 million.
California's legal marijuana sales have not gone nearly as well. Due to higher costs and taxes, as well as the illicit market, legal marijuana sales are lagging in California. The state is expecting to see a significant increase in 2018, looking to reap over 300 million in taxes due to tax breaks from the state.
Colorado's marijuana market continues to grow. A trend that is expected to continue for a long time.