Colorado weed sales topped $1.5 billion in 2017. Cannabis sales in CO have steadily increased since January 2014, when legal recreational weed was made available in the state and the department of revenue began tracking sales. 2017 saw a new high of $1.51 billion in sales, with $1.09 billion coming from adult-use cannabis, and the remaining $415. 52 million coming from medical weed.
Those numbers mean an impressive tax haul for Colorado, which raked in more than $247 million in cannabis-related taxes in 2017. Most of that money is spent on schools, with smaller chunks of the revenue going to drug prevention and treatment.
While cannabis sales have increased every year, since the stat started tracking them, the rate of increase has slowed. 2017 marked a 15% increase from 2016’s total of $1.3 billion, but 2016 marked a 31% increase from 2015, prompting some to believe that sales have plateaued.
Founding Partner of Marijuana Policy Group LLC stated, “I think what we’re starting to see is the leveling off of the market after the illicit market is absorbed, and we’re nearing the completion of that absorbtion.”
As cannabis develops into a more mature industry, it’s growth will become slower and more dependent on factors like population growth — it may also see a decline in sales as more states legalize cannabis.