News

CO Cannabis Sales Reach $106 Million

Zack Murov

by Zack Murov

19 May, 18

Colorado has been 1st many times in the cannabis market and this past March was no different!

In what is now the record for recreational marijuana sales in the U.S, Colorado sold $106 million worth of pot in the month of March.

This number does not include the $29 million worth of medical marijuana that was sold on the medical side of the Colorado cannabis market. Total sales for the month of March were $135 million.

In total, Colorado has generated $365.7 million in the first quarter of 2018 thanks to marijuana.

The state is on track to collect over $300 million in TAXES by the end of year!!! To give you some perspective, Colorado annual pot sales equal the GDP of at least 15 countries around the world.

With such staggering amounts of money flowing through the state, many people are probably wondering where it all goes. As of May 1st, $84 million has been collected and below is a list of how the money has been appropriated in previous years.

What does Colorado do with all that tax money?

  • Education and Public Health – more than $40 million has to gone to education and youth prevention programs.
  • Department of Human Services – mental health and substance abuse programs funded.
  • Infrastructure – affordable housing and other associated construction projects.
  • Law Enforcement – fund the enforcement of local illegal markets, Marijuana Impaired Driving Prevention
  • State Budget Gaps – any shortfalls in the state budget can be offset with the help of the retail cannabis tax money.
In 2012, the State of Colorado took a major risk by becoming the first to legalize recreational cannabis and has served as a model for the nine others that have followed suit. Hopefully, all the others will plan to spend their money as wisely as Colorado!