Thursday , May 26 2022
Home / World Marijuana News / Colorado Sets New Record for Marijuana Sales in 2021

Colorado Sets New Record for Marijuana Sales in 2021

Cannabis

State-licensed cannabis retailers in Colorado sold over $2.2 billion of cannabis in 2021 – the highest annual total ever, according to data released by the state.

Since 2014, when adult-use sales first became legal in Colorado, retail cannabis sales have grown each successive year. Over the past seven years, state regulators have collected over $2 billion in taxes and fee revenue from retail sales.

In all, state-authorized sales of retail marijuana products nationwide have yielded more than $10 billion in new tax revenues, according to an analysis compiled by the Marijuana Policy Project in January.

Much of this revenue has been used to fund various state-specific projects. In Colorado, over $470 million in cannabis-specific tax revenue has been applied toward public schools. In Washington, some $600 million in revenue has been directed toward public health initiatives, including a fund that provides health insurance to low-income families. In California, over $100 million in revenue has been provided to community investment programs and local nonprofit groups.