Colorado Reports Highest-Selling Year in State for Cannabis

Colorado dispensaries have sold more marijuana in the first 10 months this year compared to a record-setting sales year in 2019, officials said.

The Department of Revenue said dispensaries made about $200 million in October, pushing the state’s annual revenue to more than $1.8 billion this year and making it the highest selling year since recreational marijuana hit the market in 2014, The Denver Post reported. Last year, sales reached about $1.75 billion.

Marijuana sales were expected to exceed the previous record despite the coronavirus pandemic, and the state hit an all-time monthly high in July with $226 million in sales, officials said. It was the first time monthly revenue surpassed $200 million.

Consumers purchased about $170 million worth of recreational cannabis and about $39 million worth of medical marijuana in October, a 33% increase compared to October 2019, officials said. The state collected more than $35 million in taxes and fees during the month.