Colorado Generates $1.4B In Cannabis Sales, Gov. Polis Touts CO As Leading The Nation On Natural Medicine

The Colorado Department of Revenue reported cannabis sales figures Thursday for last year through November a total of $1.4 billion worth of products sold. The Centennial State, which was the first state in the US to launch adult-use cannabis sales 10 years ago, generated $15 billion since then. 

In November alone, medical marijuana sales yielded $14.52 million, which compares to recreational sales of $95.82 million, making a total for the month of $110.34 million. Sales data for December is not available yet. 

"Colorado was the first state to legalize recreational use of cannabis, setting a standard for innovation, safety, and economic mobility that has been replicated by other states and countries around the world," said Gov. Jared Polis (D) in his Thursday State of the State address." Now, thanks to our voters, we're once again leading the nation on natural medicine, unfreezing 50 plus years of stifled research.

In addition to cannabis, the natural medicines Polis was referring to are psychedelics. Last May, the governor signed into law a measure creating a regulatory structure for the legal use of psychedelics, 

For the full 2023, the state collected $274 million in taxes and fees, while in December alone taxes and fees brought in $19.1 million.

Polis recently celebrated 10 years of the marijuana market in the state saying, "Since Colorado voters legalized cannabis a decade ago, Colorado has developed one of the leading regulatory systems in the world," inspiring similar frameworks across the nation and globally.

In addition, the Colorado Department of Revenue's Marijuana Enforcement Division (MED) reported an impressive 99% compliance rate for ID verification at cannabis businesses, highlighting the success of regulatory measures in addressing youth access concerns while prioritizing public health.

See Also: Colorado Group Advocates For Concealed Carry Rights For Cannabis Users: Proposal Is Being Evaluated

Photo: Courtesy of H_Ko via Shutterstock 

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Posted In: CannabisNewsPsychedelicsColorado CannabisColorado Cannabis SalesColorado Cannabis Taxes
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