Marijuana Sales in Colorado hit record high on 4/20

Posted by Sagar Satapathy on June 17, 2016.

In an unprecedented happening in terms of marijuana business on April 20 or also known as 4/20, Colorado’s monthly marijuana sales have reached a new high with a record-setting $117.4 million worth of flower, edibles and concentrates sold. The state sold $7.3 million worth of legal pot.

According to data reported by the state Department of Revenue, the previous records for marijuana sales during a single day in Colorado occurred on September 16, 2015 during a tax holiday totaling $6.1 million, and total sales in December earlier this year at $101 million.

The retail sales in the state spiked by more than 50 percent compared with the year before while recreational sales increased more than 80 percent from $42.4 million in April 2015.

Colorado has now exceeded $100 million in monthly marijuana sales three times, the others being last August and December worth $100.6 million and $101.3 million respectively.

In the United States, four states and the District of Columbia have already legalized Marijuana for recreational use, while other 24 states have legalized medical marijuana. Most recently, on June 8, Ohio Governor John Kasich signed a bill legalizing medical marijuana into law.

Colorado and Washington were the first states to pass recreational marijuana laws in November 2012.

The support for marijuana legalization is increasing at a great speed, with nearly 90% of Americans favoring the legalization of medical marijuana and 54% for allowing any use of marijuana in the U.S., according to a poll conducted by Quinnipiac University.

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