Guess How Many Pounds of Legal Pot Was Sold In Colorado In 2017?
Take a wild guess how many legal pounds of marijuana was sold in the state of Colorado in 2017. I bet you'll never guess. I'm still shaking my head in disbelief.
"Rocky Mountain High" is an understatement I think. It's no wonder when I drive in certain areas of Colorado it smells like I might get high just driving down the street.
Jokingly, I would have said 420 pounds, but I really had no clue that the amount was as large as it was in 2017.
From 2014 to 2017 the number of pounds has changed significantly. According to the Mic Network in 2014 approximately 1,683 pounds of pot was being sold a month. In a year that's around 20,196. Now that may seem like a lot, but it doesn't compare to today.
Denver's Westword has since updated that total. In 2017, a whopping 665,134 pounds of legal marijuana has been sold in Colorado. Say what? How much? That can't be right, can it? It can, and it is.
Westword does go on to say that not all the pounds in 2017 were consumed, but still, an unbelievable volume expended.
Financially, what does this mean? According to Westword, a total of over $1.5 billion was earned in 2017. Increasing rapidly, but some think it'll start to slow down and perhaps decline in 2018; In the opinion of Paul Seaborn, professor or Business in Marijuana believe it or not. Seaborn was quoted in The Cannabist February 9, 2018.
I'm not an expert in this area, nor a professor like Paul Seaborn that teaches about this topic, but I'd like to understand the economics of it all. Personally, I've seen more and more weed around and talked about more than ever before.
Meanwhile, Colorado will keep growing and using, but hopefully not get too high.