Colorado: Over $70 Million in Legal Cannabis Sold in March, Setting Record for Third Straight Month

moneycannabisThere was roughly $74 million worth of legal cannabis sold in Colorado in March, setting a record for the third straight month.

In total, consumers spent more than $42 million on recreational cannabis, up from the $39 million they spent in February, and the $36 million they spent in January (both figures set records at the time).

In additional to the $42 million in recreational cannabis sold in March, there was $32 million worth of medical cannabis purchased. This is according to data released by the state’s Department of Revenue.

Read moreColorado: Over $70 Million in Legal Cannabis Sold in March, Setting Record for Third Straight Month

Poll: 58% of Colorado Voters Support State’s Decision to Legalize Cannabis

New pollingCOSealColor released today by Quinnipiac University has found that 58% of voters in Colorado support the state’s decision to legalize recreational cannabis, 3% more than the number that voted in favor of Amendment 64 in 2012.

The poll asked the following question: “As you may know, voters in Colorado passed a law legalizing marijuana for recreational use in 2012. Do you support or oppose this law?

58% responded that they support the law, with 38% saying they oppose it. 4% remain undecided. Support was highest among those aged 18 to 34, with 82% in support and just 16% opposed.

Read morePoll: 58% of Colorado Voters Support State’s Decision to Legalize Cannabis

$700 Million in Legal Cannabis Sold in Colorado in 2014

There was roughlycolorado $700 million in legal cannabis and cannabis products sold in Colorado in 2014, according to figures released by the state’s Department of Revenue. This has resulted in $76 million worth of taxes.

Of the $700 million sold, $386 million was for medical cannabis and $313 million was for recreational cannabis. This resulted in $76 million in taxes being brought in for the state; $44 million from recreational cannabis, and $32 million from medical cannabis.

Read more$700 Million in Legal Cannabis Sold in Colorado in 2014

Colorado Department of Health Backs Down from Suggestion to Ban Cannabis Edibles

The Coloradobrownie Department of Public Health and Environment has backed down from a proposal to ban most forms of edible cannabis such as brownies and cookies, with lozenges and tinctures being the exception.

The proposal, which was made public on Monday before quickly being withdrawn, sparked outrage among the cannabis industry and among cannabis advocates; it also drew legal concerns from the state-issued regulatory workgroup which met Monday to review the suggestion.

Read moreColorado Department of Health Backs Down from Suggestion to Ban Cannabis Edibles

Measure to Seal Past Cannabis Convictions Approved by Colorado Senate Judiciary Committee

A proposal to allow those with past cannabis convictions to have them sealed from their recordcannagavel – meaning they wouldn’t appear in background checks – was approved with a 3 to 2 vote by Colorado’s Senate Judiciary Committee.

The proposal, Senate Bill 218, would allow anyone with a past cannabis conviction that’s now legal under Amendment 64 (the possession of up to an ounce) to have it sealed from their record, even if the conviction occurred years before the state voted to legalize cannabis.

Read moreMeasure to Seal Past Cannabis Convictions Approved by Colorado Senate Judiciary Committee

Support for Legalization in Colorado Up Since Start of Recreational Cannabis Sales

New polling conducted by Public Policy Polling has found that support for cannabis legalization is on the raise in Colorado over a year after voters approved Amendment 64, and less than 3 months after the start of recreational coloradocannabis sales.

According to the poll, 57% of those in the state support cannabis legalization, with just 35% opposed; 54% voted in favor of Amendment 64.

In December – a month before the start of recreational cannabis sales in Colorado – Public Policy Polling found support for cannabis legalization to be at 53%, indicating that support has risen 4% in the past few months.

Read moreSupport for Legalization in Colorado Up Since Start of Recreational Cannabis Sales

Colorado to Make $184 Million in Taxes from Recreational Cannabis in First 18 Months

A new report released by Colorado’s Joint Budget Committee has projected that the state will make over $180 million in taxes during the first 18 months of legal recreational cannabis sales.money2 The committee estimates revenue of about $610 million from retail and medical cannabis from January 1st of this year, to June 30th, 2015.

Recreational cannabis sales began in Colorado on January 1st; sales exceeded $5 million in the first week. 

Read moreColorado to Make $184 Million in Taxes from Recreational Cannabis in First 18 Months

New Poll: Support for Cannabis Legalization Continues to Grow in Colorado

A new poll released today from Quinnipiac University has found that Coloradans continue to support legalization – and that support is only growing.stock4

The poll surveyed 1,139 registers Colorado voters, and found that a majority of respondents were generally in favor of cannabis legalization, and specifically Amendment 64 (A64 was the constitutional amendment passed in 2012 that legalized recreational cannabis in the State of Colorado). Of those surveyed, 58% said they support the legalization of cannabis – up from 54% when Quinnipiac conducted a survey asking the same question in August of last year.

Read moreNew Poll: Support for Cannabis Legalization Continues to Grow in Colorado

Legislation to Legalize Cannabis in New Mexico Announced

A new proposal to legalize recreational cannabis will be filed in the New Mexico Legislature this month, with Senator Gerald Ortiz y Pino as the primary sponsor.newmexico The measure will be a constitutional amendment, and will be modeled after Colorado’s Amendment 64.

Given that the proposal is being filed as a constitutional amendment, its approval through the House and Senate will send it to the voters next fall, meaning it would bypass the state’s governor, who publicly opposes the legalization of cannabis.

Read moreLegislation to Legalize Cannabis in New Mexico Announced

America’s First Legal Recreational Cannabis Sales Since Prohibition Begin Today In Colorado

The first legal recreational cannabis sales in the United States since before the start of prohibition will occur today, with dozens of retail outlets in Colorado planning to begin sales to anyone 21 and older.cannabis

As of today, January 1st, the portion of Amendment 64 which allows for recreational retail outlets to distribute cannabis takes effect, with dozens of outlets – most of which are in Denver – having already received their official business licenses. In total, 348 businesses have been approved to sell, cultivate or manufacture recreational cannabis or cannabis products in Colorado. Most of these locations are expected to be open by the summer.

Read moreAmerica’s First Legal Recreational Cannabis Sales Since Prohibition Begin Today In Colorado