Colorado Marijuana Revenues Hit A New High

COLORADO:  New figures from the Colorado Department of Revenue show that recreational marijuana sales continued to climb in August, the most recent month for which data are available. Recreational sales totaled approximately $34.1 million in August, up from $29.3 million the previous month.

Medical marijuana also jumped sharply in August, after several months of flat or declining sales. Medical sales figures were just under the recreational total, at $33.4 million. One goal of creating Colorado’s recreational marijuana market is to shift customers away from the medical market.

The numbers suggest that work remains to be done on that front. Part of the challenge is that medical marijuana is taxed at lower rates than recreational marijuana, leading to significant price differences.

If You Support Legal Marijuana, Memorize These 13 Stats

Regardless of your feelings about legalizing marijuana, it’s hard to deny that legal weed would be a bonanza for cash-strapped states, just as tobacco and alcohol already are.

With Colorado and Washington starting to tax and regulate recreational weed sales, and medical marijuana legal in 18 other states, we can finally start to put some hard numbers on the industry’s value.

Numbers like:

$1.53 billion: The amount the national legal marijuana market is worth, according to a Nov. 2013 report from ArcView Market Research, a San Francisco-based investor group focused on the marijuana industry.

$10.2 billion: The estimated amount the national legal marijuana market will be worth in five years, according to that same ArcView report.

$6.17 million: The amount of tax revenue collected in Colorado on legal marijuana sales in just the first two months of 2014.