Despite falling marijuana prices, annual sales in one of America’s oldest regulated recreational cannabis markets have yet to plateau and instead continue to break records.
Colorado’s marijuana stores rang up a record $1.5 billion in sales of medical and recreational cannabis, edibles and concentrate products in 2017, according to data released by the state’s Department of Revenue.
That’s up 15% from 2016, when retailers sold $1.3 billion, which was the previous record. In 2015, the state registered $996 million in sales.
Early in 2017, the state set some monthly records for sales even though wholesale cannabis prices were down 33%.
Adult-use sales topped $1.09 billion during the year, with the remaining $416.5 million coming from medical marijuana, according to the Denver Post.
It took Colorado just eight months to reach $1 billion in retail cannabis sales in 2017 – a record clip for the state.
In 2016, by contrast, it took Colorado 10 months to hit the $1 billion sales mark.
Colorado’s MMJ sales got a boost in June, when the state added post-traumatic stress disorder to its list of treatable conditions.
– Associated Press
