Since Colorado began recreational cannabis sales in 2014, the Green-Rush state has achieved over $7.7 billion sales thus far. This number came to light when reporting revealed that the state had done over $1.75 in sales in 2019, which is an increase of 13% from 2018, according to the Department of Revenue's Marijuana Enforcement Division. The state of Colorado collected more than $300 million in marijuana sales for 2019.
In a statement noted from the Denver Post Marijuana Industry Group's newly appointed executive director of the Truman Bradley said this about the revenue increase:
"People are moving from the unregulated market to the regulated market." "As reefer madness goes away, as the stigmatism of cannabis reduces and people come over to the regulated market, I would expect that trend to continue."
Marijuana taxes collected are allocated to several state programs, including Colorado Department of Education's Building Excellent Schools Today (BEST) fund, programs surrounding substance abuse and treatment, youth education, Colorado State general fund, the marijuana tax fund, several state agency expenses and more.
