Marijuana sales shot past the $100 million mark for the first time in August, the Denver Post released details over the weekend. In reference to sales data from Colorado’s Department of Revenue released Friday, sales of recreational marijuana hit $59.2 million for the month, while medical marijuana shops raked in $41.4 million, for a combined $100.6 million — the largest monthly total since legal recreational marijuana sales began there in January 2014.
“It means that $100 million is going to licensed, taxpaying businesses, creating jobs and helping to build new schools,” Dan Riffle, director of federal policies for the Marijuana Policy Project, told Yahoo News, “instead of going to cartels and drug dealers — as is the case in the 46 states that don’t regulate marijuana.”
Though it was the seventh time in almost year that marijuana sales in Colorado have increased higher than the previous month’s total. Despite the dip, Washington’s recreational pot sales are on pace to surpass $300 million this year.
As well as in Oregon, where legal recreational sales started at the beginning of this month, marijuana retailers brought in an estimated $11 million — or more than double the $5 million worth of recreational cannabis sold in Colorado the first week it was legal to do so.
Colorado Has Record-Breaking Month For Marijuana S …Play videoColorado Has Record-Breaking Month For Marijuana S …
Along with, pot sales in Colorado, Washington and Oregon will reach higher $1 billion in 2015 — and may hit $1 billion in Colorado alone.
So where does all the cash go? For budding ganjapreneurs, cannabusiness owners and lawmakers from those states, that’s the billion-dollar question currently circulating around the marijuana industry.
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