Colorado Hits a Billion in Record Time
- Nov 29, 2018
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As of August 2018, Colorado exceeded $1 billion in marijuana sales, which is the quickest the state has reached the $1B mark since 2014 when recreational marijuana was first legalized. The statistics come from a 2018 mid-year report from the Marijuana Enforcement Division of Colorado’s Department of Revenue, released on Sept. 10. Of this billion, $200 million goes towards Colorado’s tax revenue.
Cities found to harvest the most cannabis were Denver, El Paso, Pueblo, and Boulder. Denver harvested 329,722 pounds of weed by June 30, and El Paso came in second for the most with 48,638 pounds by June 30.
Recreational use of edibles and cannabis concentrate grew the fastest: The Denver Post calculated that the use of edibles increased 13.8 percent and concentrate increased 94.6 percent from January to June.
The state is also now set to break their previous year’s record of over $1.5 billion in sales.
In July of 2018, Colorado added post-traumatic stress disorder to its list of accepted conditions treatable by medicinal marijuana, aiding to an increase in sales. Within August alone the sales of flower, edibles, concentrates, and accessories was almost $137 million total.