A Decade Of Green: Denver's Cannabis Tax Surpasses $500M Mark

Denver has recorded over $500 million in tax revenues from both adult-use and medical cannabis since 2010, according to city data. As Colorado marks a decade since leading the charge in adult-use marijuana legalization, the state has amassed over $2.5 billion in cannabis tax since 2014.

As of August 2023, Denver’s yearly cannabis purchases stood at over $300 million and the tax dollars have been channeled into various public initiatives. Denver has allocated $61.7 million toward affordable housing, with other funds supporting homelessness services, education, small businesses and opioid interventions.

As reported by Marijuana Moment, a recent state analysis showcased Colorado’s tax earnings from cannabis surpassing those from alcohol or cigarettes in the last fiscal year. This revenue has benefited numerous governmental programs, especially in education and health.

Last November Colorado celebrated a decade since the legalization of adult-use marijuana, expanding the list of states where legal cannabis sales are filling public coffers. With sales peaking at $2.2 billion in 2021, Denver’s regulations have also curved the illicit market, evidenced by 2022’s record low confiscations.

Gov. Jared Polis, an avid supporter of legalization, continues to advocate for the industry, urging more state and federal reforms.

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Posted In: CannabisGovernmentCannabis Taxes ColoradoColorado Cannabis SalesColorado Cannabis TaxesDenver cannabis
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