Politics

Colorado’s Cannabis Sales for 2017 Reach $1.6 Billion

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
2014 $67,594,323
2015 $130,411,173
2016 $193,604,810
2017 $247,368,473
2018 (Jan) $21,681,438

 

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.

Sources:
Colorado Department of Revenue
Marijuana Business Daily
The Washington Post

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