Legal cannabis is booming, and with Colorado netting $1 billion in legal, regulated sales in the first 10 months of 2016, the industry’s growth isn’t showing any signs of slowing.
Sales of both recreational and medical cannabis hit $1.1 billion by October, according to analysis of sales data from the Colorado Department of Revenue. A boost in sales from the December holiday season is expected to push the total even higher.
“We think we’ll see $1.3 billion in sales revenue this year,” said Christian Sederberg, a partner at Vicente Sederberg and a leading cannabis industry lawyer, in a Dec. 12 interview with The Cannabist, a division of The Denver Post.