The Colorado Department of Revenue just released its final statistics for 2016, the state’s third year of recreational marijuana sales — and MMJ and recreational marijuana sales combined totaled $1.3 billion in sales. In 2015, total sales came close to a billion but didn’t top that number.
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This year, Colorado proved just how profitable marijuana can be.
In the first ten months of 2016, Colorado topped $1 billion in marijuana sales, according to the Department of Revenue. By the end of October, the state had racked up $1.1 billion in legal sales of medical and recreational marijuana — a number that easily topped the $996 million in revenue reported in 2015.
Marijuana legalization is going more smoothly in some states than in others. A major reason that four more states legalized recreational marijuana this year is the tax revenue that pot brings in. Last year, Colorado collected over $70 million in tax revenue from marijuana — nearly double the $42 million brought in by alcohol, Time reports. But one state that voted to legalize recreational marijuana this year actually cut the amount of tax revenue it will see from marijuana sales over the next year.
The question of use by women who are expecting heats up.
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Thirty-three were hospitalized in Brooklyn, for suspected synthetic cannabis (“K2”) overdoses in the area around a subway stop.
The National Institutes of Health sent out a request for information about varieties of marijuana and their possible research value.
Project CBD published a CBD Users Manual. It’s one of the better ones I’ve seen.
Cannabis allergies are climbing.
Buzzfeed makes the case that Facebook and Google’s cannabis policy enforcement is a mess.
The U.K.’s GW Pharmaceuticals which has seen its stock soar on data from its cannabis-based drug Epidiolex, plans to raise $252 million on the Nasdaq exchange with Goldman Sachs, Morgan Stanley and Bank of America Merrill Lynch shepherding the deal.
Business attorney Hilary Bricken lays out six weed scams for investors and others to watch out for.
Compliance at Millennium Bank, a community bank in Des Plaines, Ill. is reportedly under scrutiny from state and federal authorities for working with marijuana companies.
Whitney Hobbs, a founder of Oregon distributor Highly Distributed, has sued CEO Christopher Mallott for sexual harassment that led to her departure from the company. She says he groped and smelled her. The company declined to comment but an employee refuted Hobbs’ claims.
A glimpse of the future? A group of Colorado’s largest craft breweries, led a break-up of the Colorado Brewers Guild to form a new group called Craft Beer Colorado. The split follows an overhaul of state alcohol laws.
Analyst Alan Brochstein writes that Canada’s pot policies make more sense than America’s.
Former NORML head Allen St. Pierre joined a publicly-traded consultancy called Freedom Leaf.