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Colorado Reports Record Marijuana Sales of $1.75 Billion From 2019

Credit: Wibbitz Top Stories
Published on February 19, 2020 - Duration: 01:19s

Colorado Reports Record Marijuana Sales of $1.75 Billion From 2019

Colorado Reports Record Marijuana Sales of $1.75 Billion From 2019 The figure comes from the state's Department of Revenue data.

Over $300 million in tax revenue was brought in, which goes towards school construction, law enforcement and public safety programs. The cannabis industry in Colorado is the longest-established of its kind in the U.S. The surge is surprising, as the state's pot market previously appeared to be plateauing.

BDS Analytics' Tom Adams says that this was due to price drops on marijuana buds.

Colorado's cannabis sales jumped 13 percent from 2018 to 2019.

That is a big increase from the 2.5 percent bump recorded from 2017 to 2018.

Tom Adams, via CNN Business Adams attributes last year's sales increase to consumer behavior changes.

He also cites recent BDS studies, which show that marijuana is inserting itself more into people's everyday lives.

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