A new report released yesterday, Tuesday, February 9th, has indicated that from the time Colorado legalized recreational marijuana, the state has sold roughly $10 billion worth of the plant.

The Colorado Department of Revenue released new figures stating that since legalizing recreational sales of marijuana back in 2012, and the law going into effect roughly two years later, not only have marijuana dispensaries sold close to $10 billion worth of legal weed, but since then, the state has also earned $1.63 billion in tax revenue.

In addition, 2020 saw an all-time high in legal marijuana sales in the Centennial State with $2.19 billion in revenue, a vast increase in 2019's $1.75 billion.

Colorado legalized medical marijuana sales in the year 2000 with the state's Amendment 20 by a slight margin of 54% approval from voters. The state would then go on to legalize recreational marijuana twelve years later in 2012, allowing those aged 21 and older to purchase the plant in various forms from dispensaries.

The same law also allowed Colorado residents aged 21 and older to grow up to six plants per person per household under certain restrictions, a law that still stands today.

Since then, many laws have been put into place regulating use and the growing of the plant, including measures that have established the allowance of establishments at which adults can partake of the plant publicly.

In fact, Governor Jared Polis signed a bill that allows for businesses that have gained the appropriate licenses to have areas where adults can partake of the plant socially, much like a bar.

[KRDO]

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