If recreational marijuana were legalized in California, it is estimated that the cannabis market would be worth a billion dollars annually in the state. This may seem far-fetched, but after looking at the numbers coming out of Colorado in 2015, it will make total sense.
Legal medical and recreational sales approached the $900-million-dollar mark at the end of November in the state of Colorado. The final year-end total will not be available until February but we are guessing that it will be real close to one billion dollars. In the summer of 2015, the average marijuana sales per month were nearing 100 million, so the market in Colorado is not far behind what projections show could be possible in California.
These are not the only surprising numbers coming from Colorado this year either. In 2015, it is estimated that the taxes will have brought in almost 32 million dollars in one year thanks to the 15% excise tax on cannabis sales, which goes to school construction projects. This is double the amount of money that was brought into this tax fund in 2014. The total sales for medical and recreational cannabis in Colorado in 2014 was just under 700 million dollars.