Colorado’s 2017 marijuana sales reach $1 billion in just eight months | SummitDaily.com

Colorado’s 2017 marijuana sales reach $1 billion in just eight months

By Alicia Wallace, The Cannabist Staff

Colorado’s marijuana retailers logged upward of $1.02 billion in collective medical and recreational sales through August, according to The Cannabist’s extrapolations of state tax data released Wednesday.

Legal marijuana is a bona fide billion-dollar industry in Colorado. And it's hitting the mark faster than ever.

In 2017, Colorado eclipsed $1 billion in marijuana sales in eight months; in 2016, it took 10 months.

Colorado's marijuana retailers logged upward of $1.02 billion in collective medical and recreational sales through August, according to The Cannabist's extrapolations of state tax data released Wednesday. Year-to-date sales are up 21 percent from the first eight months of 2016, when recreational and medical marijuana sales totaled $846.5 million.

This year's cumulative sales equate to more than $162 million in taxes and fees for Colorado coffers.

During the month of August, sales of flower, edibles, concentrates and accessories were nearly $137 million — $100.3 million from recreational cannabis sales and $36.5 million from medical marijuana — according to The Cannabist's calculations.

Read the full story on The Cannabist website, click here.

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