Colorado’s recreational marijuana sales have now surpassed medical marijuana sales:
Many legalization proponents welcomed the latest sales figures. But they don’t necessarily mean the imminent demise of Colorado’s black market. “I don’t think the increase in sales necessarily reflects a decrease in the black market, although it may,” Brookings’ [John] Hudak said in an interview. The sales increase could be due to “increases in marijuana tourism – an industry growing pretty rapidly in the state.”
A cultural shift is also likely under way, as more residents dip their feet in the recreational market. “It might reflect a relaxation of state residents where people are coming around and saying ‘Ok, this is real, this is legit and I’m not going to get arrested for it.’”
Katy Steinmetz keeps an eye on marijuana tax revenue:
During the month of July, the state received $838,711 from a 2.9% tax on medical marijuana, meaning that patients spent an estimated $28.9 million at dispensaries. The state meanwhile raked in $2.97 million from a 10% sales tax on retail marijuana, putting those sales at about $29.7 million, according to calculations by theCannabist.
Though that amounts to a less than $1 million gap between retail and medical sales, this is a small victory for champions of legalization who have argued that the experiment will be profitable for the state, as revenues have lagged behind some expectations.
Early this week, Jon Walker passed along a poll finding that Coloradans have no regrets – 55 percent support the legalization law:
Although a sizable minority still doesn’t like the new law there is little active opposition to it. Only 8 percent of adults say they are trying to have the law overturned. On the other hand, roughly half of the people who favor the new law say they are actively supporting it. Both the raw numbers and the intensity of support are with the pro-legalization side.
If voters and politicians in other states are “waiting to see” how legalization goes in Colorado the general consensus seems to be that it has gone pretty well. Most Coloradans are happy with legalization and would do it all over again.