And $2.3 million of that money will go to the kids aka the Colorado school system! Because legal weed in Colorado reached a new high in January as total retail sales hit approximately $36.4 million in March.
Last January, that sales mark was a meager $14.69 million–and in large part boosted by tourists and the historical moment in time. But since then, the market has ballooned as Colorado’s recreational market’s revenue has more than doubled. Considering there were less than 20 retail shops in the entire state a year ago and there are now 0ver 100 in Denver alone, this figure is really not too surprising.
But it’s very indicative of the future of marijuana in both Colorado and beyond. While there’s still a place for medical marijuana, the ease (see: no doctors needed!) of purchasing retail cannabis clearly is preferred by many. And tourists in search of legal weed are in abundance.
Here’s a neat figure from The Cannabist that shows the conversion of the medical and retail markets (in millions):
While medical marijuana won’t be disappearing from the state, this data shows pretty clearly that recreational marijuana now reigns supreme. And the legal weed is going to keep on raining down tax dollars for Colorado’s schools.