And all this time we were told that smoking weed was a bad thing. Shame on us for being brainwashed, huh? Turns out that the sticky icky stuff is pretty profitable—as in, potentially, $1 BILLION profitable for the entire year of 2016 in the state of Colorado.
According to the Colorado Department of Revenue, the state has already sold over $486 million worth of marijuana through the first five months of the year, with May’s sales being the fourth-highest monthly total since the state began selling the drug recreationally in January of 2014.
Medical sales topped $37.7 million, and recreational cannabis sales ended up being $60.85 million. With all of those receipts, Colorado will be swimming in tax revenue; the state claimed nearly $15 million in cannabis taxes, licenses, and fees.
In April, Colorado set a new sales record with $117.4 million, mostly thanks to the annual 4/20 holiday.
With so many people lighting up in Colorado, the state should see some healthy revenue—so anyone want to take a trip to Denver with me soon?