Colorado has been reaping the financial success of cannabis longer than almost any other state in the country. It is so profitable in fact, that its revenue now exceeds that of some countries.

The Colorado Department of Revenue is reporting that $1.3 billion of revenue was generated in 2016 from both recreational and medical cannabis. Those figures eclipse the GDP of 19 nations in the world. Of that money, $200 million of tax revenue was created for the state.

Last year Colorado generated $996 million in cannabis sales, up from $699 million in 2014.

According to the Acrview Market Research Group, $53.3 billion was spent on cannabis in North America in 2016. Arcview further estimates that 87 percent of those sales were from the black market, and thus the country missed out on an opportunity to tax a product with an incredible demand.

“[Colorado’s tax revenue] is just the tip of the iceberg,” communications director Mason Tvert of the Denver-based Marijuana Policy Project said in a statement. “The state is also reaping the invaluable public health and safety benefits of replacing an underground market with a tightly............ http://ireadculture.com/colorado-cannabis-industry-makes-money-several-countries/

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