(COLORADO SPRINGS) — New Year’s Day marked the 10th anniversary of Colorado’s legal marijuana market. The state was the first jurisdiction in the world to regulate and sell cannabis for adult use, and 10 years later, the industry appears to be experiencing some growing pains.
From January 2014 through August 2023, total sales of marijuana, including medical and recreational cannabis, surpassed $15 billion, according to the Colorado Department of Revenue. In 2023, sales were $1.3 billion as of the end of October, trailing 2022’s $1.77 billion in sales and 2021’s $2.2 billion in sales.
“By any objective measure, legalization in Colorado has been successful,” said Mason Tvert, VS Strategies partner. “Ultimately, our goal was to allow adults to use marijuana responsibly and purchase it legally and safely in licensed businesses and that’s exactly what’s taking place.”
Since 2014, about $15.28 billion in regulated marijuana sales have taken place in licensed Colorado marijuana stores, and the state has collected approximately $2.6 billion in revenue from marijuana taxes and fees.
The past two years have industry insiders wondering how to get business booming again, while those against the industry want more regulations.
“The vast majority of the money that’s being spent out there is to push irresponsible messages about marijuana that, it’s harmless, that it’s medicine, that it helps you and no one is hearing the fact that…
