Colorado Marijuana Posts Record $1.5 Billion Performance

Legal cannabis sales in the Centennial State Rose up to $1.5 billion, in a metric that encompasses both medical and recreational cannabis markets. The data was released to the public by the State‘s Department of Revenue.The closing number for 2016 was $1.3 billion in sales which, at the time, also set a record. The comparison of performances shows the state‘s sales have experienced a 15% rise year-on-year. In 2015, $996.5 million in sales were registered.

At the start of 2017, even with dwindling marijuana prices that had dropped 33%, the state had already started to set monthly records for sales, which ultimately led to the bar-setting performance for the sector by the end of the annum.

A breakdown of the numbers shows us that adult recreational use rose to $1.09 billion over the year. The remaining $416.5 million came from the medical marijuana sector.

Last year, Colorado needed only eight months to break the $1 billion sales threshold — yet another record-breaking performance. It took the state 10 months over the prior year to reach the number.

The addition of PTSD to the list of treatable conditions served as a boost for the sales of MMJ back in June of last year.

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