Legal marijuana sales continue to slump across Colorado. Officials say the state may not be using less weed, but could be just buying less on the open market…
(Marijuana Sales Way Down wrap :48)
Sales appear to be dropping so much, they’ve hit a new low. This year on April 20th, 4/20 of course, legal sales were their lowest in 5 years. Overall in April, Coloradoans bought about 131 million dollars worth of cannabis, down from 153 million last year. A national cannabis industry group based in Denver thinks inflation and new taxes are steering people away from legal ways to buy. Aaron Smith speaks for the National Cannabis Industry Association…
230713 A Smith- going back underground :08 Q:…underground market…
Just this month, Colorado’s marijuana enforcement division increased application and licensing fees for pot-related businesses. Last year, total sales dropped 460 million dollars in the state. That cost the state about a hundred million dollars in fees and state tax revenue that would’ve gone to things like schools.