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
Trump Administration Cautions Against National Hemp ExpansionCash Crop Today - February 22, 2018
The Trump administration doesn’t want to see hemp expanded nationwide in the next Farm Bill because of concerns about overproduction, an official said on February 21, 2018.…
Canopy Growth Signs Significant Supply and Sales Agreement with Sunniva Medical IncCash Crop Today - February 22, 2018
On February 21, 2018, Canopy Growth Corporation ("Canopy Growth") (TSX:WEED) announced the signing of a definitive supply agreement with Sunniva Inc. ("Sunniva") (CSE:SNN) (OTCQX:SNNVF). Through the terms…