Colorado Cannabis Shops Hit $1-Billion In Sales

To say its been a fruitful 10 months for Colorados cannabis industry would be a serious understatement.

The Cannabist reports that in the first 10 months of 2016, Colorados cannabis shops reached $1-billion in legal, regulated marijuana sales.

Recreational and medical stores in the state have sold almost $1.1-billion of cannabis and related products this year, according to new data from the states Department of Revenue.

In February, when 2015s year-end cannabis tax data was released, The Cannabist reported $996,184,788 in sales at Colorado cannabis shops that year. This prompted leading industry attorney Christian Sederberg to declare: I think its ethical to round that up to a billion.

This week, Sederberg said we think well see $1.3-billion in sales revenue this year and so the economic impact of this industry - if were using the same multiplier from the Marijuana Policy Groups recent report, which is totally reasonable - it suddenly eclipses a $3 billion economic impact for 2016.

Sederberg and his colleague Andrew Livingston also estimated that this years overall tax totals will come out to more than 2014 and 2015 tax totals ...