Retail marijuana sales top $1.3 billion in Colorado

That's compared to only a 7 percent growth in medical marijuana sales. Colorado dispensaries sold $1.3 billion of legal cannabis in 2016, a major jump from the $996 million in 2015 and $699 million the year prior.

Recreational marijuana accounted for 875 million of the sales total.

According to the Cannabist, the weed industry's growth is starting to slow down in Colorado, and they're finding less people visiting the state exclusively to get their first legal high. Three years ago, when recreational marijuana was first legalized in the state, sales reached nearly $700 million. In Colorado, legal recreational retail sales of marijuana began in January of 2014 with $313 million in recreational sales and $384 million in medical sales. Now the service is testing another Colorado demographic: skiiers and snowboarders.

Colorado's $1.3 billion in legal weed sales past year will yield around $199 million in taxes and fees for the state, the likes of which is typically allocated toward school construction and other community projects, The Denver Post reported.

"Over one billion dollars in marijuana sales that once took place in the underground market were instead conducted in regulated businesses this year". It is being properly tested, packaged, and labeled, and it is only being sold to adults who show proof of age.

  • Zachary Reyes