Colorado reaches $1 billion in marijuana sales in record time

Despite falling cannabis prices and other U.S. states legalizing recreational marijuana, it took Colorado just eight months to reach $1 billion in retail MJ sales in 2017 – a record clip for the state.

In 2016, by contrast, it took Colorado 10 months to hit the $1 billion sales mark.

The Denver Post reported that Colorado marijuana retailers had amassed $1.02 billion in combined recreational and medical marijuana sales through August.

In August itself, sales of flower, edibles, concentrates and accessories totaled nearly $137 million.

While Colorado has one of the oldest regulated cannabis markets in the United States, sales have yet to plateau.

Earlier this year, the market was setting monthly records for sales even though wholesale cannabis prices were down 33%.

In July, the state also added post-traumatic stress disorder to its list of treatable conditions, giving a further jolt to medical marijuana sales.  

Daily News | Briefs | Colorado Medical Cannabis Business & Marijuana Legal News

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