Annual Marijuana sales in Colorado to approach $900 Million

It appears as if Colorado will soon become the major marijuana hotspot in U.S.A few years ago, marijuana trade was completely illegal. But today there are 23 states that allow the distribution of marijuana of some form. But most of these states have legalized medical marijuana. Right now only Alaska, Washington, Colorado, and Oregon are the four states that are open to the sales of recreational marijuana.
With the legalization, there has been a major change in the mindset of American public. In the polls taken from the different states, a major portion of public is favoring legalization of marijuana in all states. Currently some of the states are looking at marijuana trade as a good tax source. They base their argument on a noble cause for supporting infrastructure, creating jobs and promoting education.

In Colorado, recreational Marijuana became legal in the year of 2014. Since then, most of the news coming out of Colorado is about pot. The sales in this state have been way faster than the other states. It is estimated that the sales would reach 900 Million Dollars mark by this November.

With the sales plummeting high, the taxes collected related to marijuana are also impressive. According to the Denver Post, state collected $86.7 million taxes during the last eight months. A large portion of taxes will go for supporting education system and medical facilities in Colorado rather than giving it to growers.
While the activity of marijuana sales is ramping up, many investors want to organize marijuana themed events where pot could be sold lawfully to people above 21. Right now, only licensed stores are allowed to sell marijuana but in the future rules could get similar to alcohol sales.

Now the talk is about green jobs, allowing more distributors to get into the business. Based on the last year’s statistics the sales of recreational marijuana increased by 4 percent between October and November reaching $51 million. According to sources, the information about December and January sales will be made available in February. Since the public went through Christmas and New Year celebrations during these months, it is expected that the numbers would be astonishing.

The recent news on Cannabis shows that Denver Mayor Micheal Hancock could support the idea of cannabis lounges. In future tourists could enjoy some of the hottest marijuana clubs in Colorado. Also, this could create more jobs for people. It won’t be a surprise if you get high by just breathing in the Colorado air.