State mar­i­juana sales ex­ceed $1 bil­lion, set­ting new record

The Washington Times Daily - - NATION - — An­drew Blake

Le­gal mar­i­juana sales in Colorado sur­passed $1 bil­lion dur­ing the first 10 months of 2016, ac­cord­ing to newly re­leased fig­ures from the state’s Depart­ment of Rev­enue, sig­nal­ing the best year yet since dis­pen­saries be­gan sell­ing re­cre­ational weed in 2014.

Colorado’s state-reg­u­lated pot shops sold $1.09 bil­lion in mar­i­juana and mar­i­juana-re­lated prod­ucts be­tween Jan. 1 and the end of Oc­to­ber, the depart­ment said this week, of­fi­cially ex­ceed­ing the bil­lion-dol­lar thresh­old for the first time.

While the Rev­enue Depart­ment isn’t ex­pected to an­nounce an­nual sales num­bers un­til Fe­bru­ary, the state’s hun­dreds of le­gal dis­pen­saries so far have sold $720.7 mil­lion and $371.4 mil­lion in re­cre­ational and med­i­cal mar­i­juana, re­spec­tively, with two months left.

The state’s first re­tail shops opened on Jan. 1, 2014, and by the end of the year had sold around $700 mil­lion in re­cre­ational and med­i­cal weed. Mar­i­juana sales spikes the fol­low­ing year to $996 mil­lion, set­ting ex­pec­ta­tions early for 2016 to be a record break­ing year.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.