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Colorado marijuana sales hit a record $1.75 billion in 2019

Last year was the most lucrative 12 months for cannabis sales in Colorado since the state’s voters legalized recreational marijuana.

Medical and recreational cannabis sales hit a record $1.75 billion in 2019, up 13% from 2018, according to data from the Department of Revenue’s Marijuana Enforcement Division. Marijuana tax collections also hit an all-time high, at more than $302 million in 2019.

December closed out the year with strong sales totaling more than $144 million, up 6.7% compared to the previous year. But that wasn’t the biggest month of 2019; instead, August topped the calendar year with $173 million in sales.

All told, Colorado marijuana sales now have hit $7.79 billion since recreational sales began in 2014.

Truman Bradley, the newly appointed executive director of the Marijuana Industry Group, said the revenue increases in Colorado track with expectations.

Source