By Associated Press
(AP) — Colorado dispensaries have sold more marijuana in the first 10 months in 2020 than compared to a record-setting sales year in 2019, officials said.
The Department of Revenue said dispensaries made about $200 million in October, pushing the state’s annual revenue to more than $1.8 billion this year and making it the highest selling year since recreational marijuana hit the market in 2014, The Denver Post reported. Last year, sales reached about $1.75 billion.
Marijuana sales were expected to exceed the previous record despite the coronavirus pandemic, and the state hit an all-time monthly high in July with $226 million in sales. It was the first time monthly revenue surpassed $200 million.
Consumers purchased about $170 million worth of recreational cannabis and about $39 million worth of medical marijuana in October, a 33% increase compared to October 2019.
The state collected more than $35 million in taxes and fees during the month.