The 34 new banks that began providing financial services to cannabis businesses between February and March represents the single greatest monthly increase recorded in the new report.
In March 2017, licensed Colorado marijuana shops hauled in more than $131 million in sales; it’s the tenth month in a row sales have topped $100 million, and the sustained double-digit growth rate caught the attention of some analysts and economists contacted by The Cannabist.
Sales tax revenue generated for the state during March was $22.9 million, according to the Colorado Department of Revenue.
by the end of the year, that could add up to an industry boasting $1.6 billion in sales
“We’re surprised that sales continue to grow so quickly,”…“We are not surprised that almost all of the sales growth is in the retail marijuana space.”