Colorado retailed $1.5 billion dollars’ worth of medical and recreational cannabis last year, up 15% from 2016. Although recent over supply in the states market has caused to price per gram to drop significantly, demand is still stronger than ever.
Colorado was the first state in the U.S. to legalized cannabis for recreational consumption back in 2014. Taxes from the sale of cannabis has grown exponentially every year and in 2017 the state generated over $200 million dollars in taxes alone.
Total revenue from cannabis taxes, licenses, and fee revenue:
|Calendar Year||Total Revenue|
Cannabis legalization has had other positive effects on the state. According to new research by the American Journal of Public Health, the legalization of cannabis has caused opioid related deaths and overdoses to drop state wide by 6%. Actually, Denver’s violent crime rate dropped 2%, as well as, an 8% drop in property related crimes. It’s clear that Colorado’s experiment has now set a precedence for other states considering legalization.
Colorado Department of Revenue
Marijuana Business Daily
The Washington Post
You may be interested
More Banks Willing to Work with Cannabis Businesses as Legality is DebatedEditor - June 20, 2018
If you live in any of the nine U.S. states that support recreationally legal cannabis legislation like California, Alaska, Colorado, Maine, Massachusetts, Nevada, Oregon, Vermont, and Washington,…
California Based Edible Company Signs LOI For the Chance to Go Public in CanadaEditor - June 20, 2018
The Bhang Corporation, a privately-held cannabis edible and accessory company with operations out of California, has entered into a LOI (letter of intent) with Canadian public company…