Colorado saw record cannabis sales in 2019

Colorado set a new marijuana revenue record in 2019, generating $1.75 billion, The Denver Post reported.

According to the Department of Revenue’s Marijuana Enforcement Division, $1.75 billion is a 13 percent increase in sales from 2018.

August was the most profitable month, with the state bringing in $173 million, and Colorado finished 2019 strong, with $144 million in sales in December.

Truman Bradley, executive director of the Marijuana Industry Group, told the paper that the growth in revenue was expected.

“People are moving from the unregulated market to the regulated market,” Bradley explained. “As reefer madness goes away, as the stigmatism of cannabis reduces and people come over to the regulated market, I would expect that trend to continue.”

Since the recreational sale of marijuana began in 2014, Colorado has reportedly made $7.79 billion in total, which has translated into $1.21 billion in tax revenue.

All of the tax revenue goes to Colorado’s public education fund.