Saturday, August 12, 2017

$100 million a month in weed sales is the new normal in Colorado

http://www.newsweek.com/colorado-marijuana-sales-legalization-2017-637126
"Marijuana sales in Colorado are soaring. The state, which legalized adult pot use in 2014, achieved a milestone in May, when pot sales topped $100 million for the 12th consecutive month, according to a Thursday report by marijuana news site The Cannabist.  Colorado sold over $127.7 million worth of cannabis flower, edible products and concentrates in May, according to The Cannabist’s analysis of the state’s marijuana tax data. More than $35.7 million of sales stemmed from medical marijuana purchases, and recreational-use items generated $90.1 million in sales.  Bethany Gomez, director of research for marijuana market research firm Brightfield Group, told the site that hitting the $100 million mark has become “the new norm” in Colorado, with some $1.4 billion in sales between May 2016 and May 2017. During that time, Colorado racked up over $233 million in taxes and license fees."

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