Colorado: Nearly $1.1 Billion in Legal Cannabis Sold in First 10 Months of 2016

Over $1 billion of legal cannabis has been sold in Colorado in the first 10 months of this year. This is according to data released by the state.

coloradoFrom January 1st to October 31st of this year there was a total of $1,092,159,291 in cannabis sold at licensed retail outlets. $720,731,127 of this came from recreational cannabis sales, while $371,428,164 came from medical cannabis sales. By comparison, there was $1.15 billion in legal cannabis sold in Washington State during the same period.

The nearly $1.1 billion sold in Colorado has netted the state roughly $300 million in taxes. This comes from three different statewide cannabis taxes; a 2.9% sales tax, a 10% special tax and a 15% excise tax on wholesale transfers (which goes directly towards school construction and funding).

Read moreColorado: Nearly $1.1 Billion in Legal Cannabis Sold in First 10 Months of 2016

Denver Voters Legalize Cannabis Use at Public Venues

Cannabis UseIn 2012 voters in Colorado gave approval to Amendment 64, legalizing cannabis throughout the state. Despite legalizing cannabis possession, cultivation and retail outlets, it retained the illegality of cannabis being consumed at public venues, even at privately owned businesses. That will soon change, however, as Denver voters have given approval to Initiative 300.

Initiative 300 allows cannabis to be consumed onsite at various adult-only venues. This includes bars, nightclubs and other such outlets. This gives cannabis consumers legal outlets to use the plant outside of a private residence.

Read moreDenver Voters Legalize Cannabis Use at Public Venues

New Poll Asks Colorado Voters if they Support Repealing Amendment 64

Amendment 64According to a new poll released today by Public Policy Polling, a minority of voters in Colorado support an initiative to repeal Amendment 64, the cannabis legalization measure approved by voters in 2012. A majority of voters would reject such a repeal.

According to the poll, just 36% of voters say they support repealing Amendment 64. This is 9% lower than the percentage of voters who voted “No” on the initiative in 2012, indicating that a good portion of those who opposed the measure no longer do. The poll also found that a majority in the state – 56% – believe that legalization has has a good impact, or no impact, with just 39% saying that think it has had a negative impact.

Read moreNew Poll Asks Colorado Voters if they Support Repealing Amendment 64

Colorado Governor Who Called Cannabis Legalization ‘Reckless’ No Longer Opposes it

hicken
Colorado Governor John Hickenlooper (Photo: CPR.org)

In 2012, Colorado voters gave approval to Amendment 64, legalizing recreational cannabis for everyone 21 and older. Among the law’s most vocal and prominent opponents was the state’s Governor, John Hickenlooper, who called the decision by voters “reckless”. At the time, Hickenlooper said he would “wave a magic wand” to reverse the decision, if he could. Now, over three and a half years later, the governor has changed his tune.

During a recent discussion at the Milken Institute Global Conference in Los Angeles, Hickenlooper said; “If I had that magic wand now, I don’t know if I would wave it… It’s beginning to look like it might work.”

Read moreColorado Governor Who Called Cannabis Legalization ‘Reckless’ No Longer Opposes it

U.S. Supreme Court Dismisses Challenge to Colorado’s Cannabis Legalization Law

coloradoIn a historic decision, the United States Supreme Court today dismissed Nebraska and Oklahoma’s lawsuit challenging Colorado’s law that allows for the legal possession, cultivation and retail distribution of cannabis.

The lawsuit against Colorado’s cannabis law was filed in December, 2014 by the attorneys general for Nebraska and Oklahoma, who argued that the state’s decision to legalize the plant was “placing stress on their criminal justice systems.” Both the state of Colorado, and the Obama Administration filed briefs urging the court to dismiss the suit.

Read moreU.S. Supreme Court Dismisses Challenge to Colorado’s Cannabis Legalization Law

Arizona: Over 150,000 Signatures Collected to Place Cannabis Legalization on November Ballot

arizonaThe Campaign to Regulate Marijuana Like Alcohol in Arizona has announced that they’ve collected over 150,000 signatures on their initiative to legalize recreational cannabis. The group needs to collect 150,642 signatures for their measure to be officially placed on the November ballot, though they’re aiming for 230,000 to account for any invalid signatures (any duplicate signatures, or any signatures from those who aren’t registered Arizona voters).

If palced on the ballot and passed into law, the Regulation and Taxation of Marijuana Act would legalize the possession of up to an ounce of cannabis, and the personal cultivation of up to six cannabis plants, for those 21 and older. State-licensed cannabis retail outlets and cultivation centers would also be authorized, similar to Colorado’s Amendment 64 which was approved by voters in 2012.

Read moreArizona: Over 150,000 Signatures Collected to Place Cannabis Legalization on November Ballot

Colorado: Nearly $900 Million in Legal Cannabis Sold in First 11 Months of 2015

moneyLegal cannabis has become a huge market in Colorado, with nearly $900 million purchased between January and November of last year, according to the state’s Department of Revenue; final year-end sales data won’t be released until mid-February.

In total, there was $894,865,100 worth of legal cannabis purchased in Colorado in the first 11 months of 2015, resulting in over $100 million in taxes for the state. By comparison, there was $699,198,805 in cannabis sold during all of 2014, resulting in roughly $75 million in new state taxes.

Read moreColorado: Nearly $900 Million in Legal Cannabis Sold in First 11 Months of 2015

Enough Signatures Collected to Put Legalization to Vote in Massachusetts

massachusettsThe Campaign to Regulate Marijuana Like Alcohol has just submitted over 103,000 signatures for their initiative to legalize recreational cannabis, well over the 64,750 signatures required to put it to a vote.

If the state verifies that enough of the signatures are valid (from registered Massachusetts voters), the initiative will be put before the state’s legislature. If the legislature decides against passing it into law, advocates will have a month (in June) to collect an additional 10,792 signatures, which would place it on the 2016 ballot in November.

Read moreEnough Signatures Collected to Put Legalization to Vote in Massachusetts

Colorado: $50.1 Million in Legal Recreational Cannabis Sold in June, a New Record

COSealColorThere was $50.1 million in legal recreational cannabis sold in June in Colorado, an over $7.5 million increase from May, and a record for the state, according to the state’s Department of Revenue.

In addition to $50.1 million in recreational cannabis sales, there was $35.2 million in medical cannabis sold, a high for the year. In total, recreational cannabis sales brought in $9 million in taxes and fees for the state, with an additional $1.85 million coming from medical cannabis taxes and fees.

Read moreColorado: $50.1 Million in Legal Recreational Cannabis Sold in June, a New Record

Denver: Initiative to Allow Cannabis Consumption in Bars and Clubs Approved by City Officials

marijuana-smoker1Denver city officials have given approval to the Limited Social Marijuana Consumption Initiative, allowing advocates to begin gathering signatures in attempt to place the proposal on this November’s ballot.

If advocates are successful in collecting 4,726 valid signatures by September 3rd, the initiative will be placed on the November general election ballot. If approved by voters, it would allow cannabis to be consumed at any venue where only those 21 and older are allowed, such as bars and adult-only clubs.

Read moreDenver: Initiative to Allow Cannabis Consumption in Bars and Clubs Approved by City Officials