Colorado marijuana sales in March 2017 top $132 million, setting new record

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.”

Source: Colorado marijuana sales in March 2017 top $132 million, setting new record

California regulators release first draft of revised medical marijuana rules

California state regulators released draft regulations Friday intended to impose order on the loosely organized marketplace created over two decades ago.

“The draft regulations represent a starting point for the state to begin to clean up what has become a highly unruly multi-billion-dollar unlicensed industry that is not subject to any regulations at all whatsoever,” said attorney Aaron Herzberg, who runs Santa Ana-based CalCann Holdings.

 

Source: California regulators release first draft of revised medical marijuana rules