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New Record: Colorado Marijuana Sales Topped $226 Million In July

DENVER (CBS4) -- Marijuana sales continue to set new records in Colorado, eight years after recreational use was legalized in the state. Sales topped $226 million in July, according to the Department of Revenue.

retail business bank marijuana cash pot money
(credit: iStock/Getty)

Marijuana dispensaries were deemed essential businesses during the coronavirus pandemic and were allowed to remain open during the stay-at-home order. Colorado also made online sales of recreational marijuana legal during the pandemic. Delivery of medical marijuana is legal now and the delivery of recreational cannabis will be legal in 2021.

RELATED: Cannabis Customers Can Now Buy Marijuana From Vending Machines In Colorado

So far in 2020, people have bought more than $1.2 billion worth of pot products in Colorado. That means the state has collected more than $240 million in taxes.

The office of Gov. Jared Polis released the following statement on Wednesday:

"Colorado's cannabis industry is a model for the country, is thriving and continues to help create good-paying jobs. There is increased cannabis competition across the country but Colorado is still the green standard for cannabis investment, innovation, and to build up a business. The tax revenue helps communities invest in public school construction and health and safety protections.

"Coloradans decided in 2012 that cannabis should be treated the same as alcohol and we've taken steps to ensure the industry can continue to operate during this challenging time. Colorado has led the nation when it comes to cannabis and set up a progressive regulatory model for the industry that we hope other states will follow.

"Colorado has seen $244 million in marijuana taxes, license and fee revenue so far in 2020 (January through August 2020), and $1.452 billion to date since retail marijuana sales began in 2014. For detailed monthly marijuana tax revenue reports, please visit the Colorado Department of Revenue's Marijuana Tax Data website."


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