Colorado sold 1.75 billion $ of cannabis in 2019

Colorado sold $1.75 billion worth of legal cannabis in 2019, a record since the state legalized cannabis in 2014.

According to the Colorado Treasury, sales of Cannabis in 2019 were up 13% on 2018. The most prolific month was not April (which includes 420), but August 2019, with $173 million.

Since 2014, Colorado sold 7.79 billion worth of medical and recreational cannabis combined, generating over $1.21 billion in tax revenues.

«People are moving from the unregulated to the regulated market,» he said. explained Truman Bradley, Executive Director Marijuana Industry Group, a gathering of cannabis companies. «Like the Reefer Madness is disappearing, as the stigma around cannabis diminishes and people enter the regulated market, I expect this trend to continue.»

Today, however, competition is fiercer than ever, with 11 American states that have legalized cannabis, including California, which sold 3.1 billion $ worth of cannabis in 2019. A significant portion of Colorado's cannabis sales do indeed come from non-residents, and now that Michigan and Illinois can cater to Americans who live closer to the Midwestern and East Coast states, Colorado's sales figures could decline by the end of 2020.

In January 2019, newly elected Colorado Governor Jared Polis actually joked about it, advising other U.S. states to take their time rolling out cannabis legalization.

«As one of the first states to implement it, we generate significant sales from people outside our state,» had declared Polis «So, from Colorado's economic standpoint, I'd like to see the other states move slowly so that we keep all of those benefits for Colorado.»