Cannabis Record Sales in Colorado

The coronavirus has negatively impacted many industries this year, but one that came out with sprinkling was the marijuana sector. The state of Colorado reported that sales at its marijuana dispensaries hit a record this year. Colorado Dispensaries sold more marijuana in the first 10 months of this year than they did in a record-breaking 2019 sales year, according to Department of Revenue officials. The Department of Revenue said the dispensaries raised around $ 200 million in October. That brought the state's annual revenue to more than $ 1.8 billion that year, making it the highest-grossing year since recreational marijuana launched in 2014, The Denver Post reported. In 2019, sales reached around $ 1.75 billion. Colorado hit an all-time high in July with $ 226 million in sales, officials said. It was the first time that monthly earnings exceeded $ 200 million. According to officials' data, Colorado users bought about $ 170 million in recreational cannabis and about $ 39 million in medicinal marijuana in October, up 33% from October 2019. The state did so this month Received more than $ 35 million in taxes and fees.