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Colorado marijuana sales exceed US$1B through August

By AP

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(AP) — A Colorado report shows marijuana sales in the state have exceeded US$1 billion as of August of this year, with tax revenue from those sales reaching US$200 million.

The Denver Post reports the state Department of Revenue report indicates medical and recreational marijuana sales are on track to break last year’s record of more than US$1.5 billion.

This year’s combined sales reached the billion-dollar mark at the earliest point in the four years recreational marijuana has been legal in the state.

Total sales through August 2017 reached more than US$996 million.

According to the Marijuana Enforcement Division’s 2018 Mid-Year Update, the industry’s hot spots are in Denver, Boulder, El Paso and Pueblo counties, growing 80 per cent of all plants in the state as of June.

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