Colorado Marijuana Sales Almost Hit $2.2 Billion in 2020

Colorado marijuana sales almost hit $2.2 billion in 2020, according to the state Department of Revenue, shattering records for both annual sales dollars and tax revenue.

Spurred by historically high transaction months at the start of the COVID-19 pandemic, Colorado's cannabis industry sold over $2.19 billion worth of pot and related products at dispensaries last year, DOR data shows. Those sales resulted in the state collecting almost $387.5 million in tax revenue.

Last year's sales totals blew away 2019's total of $1.74 billion, the previous yearly record, by over 25 percent. Annual tax revenue also jumped significantly from 2019 to 2020, increasing more than 28 percent.

As in previous years, 2020's marijuana sales peaked in the summer months, reaching a high point of over $226 million in July. Even the traditional winter decline still saw monthly sales records in 2020, with December's $186.3 million easily the highest total for the last month of the year.

Although that winter decline generally extends into February and March, 2021 should keep the pace set last year. Recreational marijuana delivery is now legal in Colorado, and it's expected to increase legal pot sales — if delivery businesses actually get moving in the state. Both Aurora and Denver are in the early stages of implementing the service.

The state also saw eight new municipalities opt into recreational marijuana sales at the end of 2020, including three towns — Broomfield, Littleton and Lakewood — in the metro area.

Since recreational marijuana sales began in Colorado in January 2014, legal cannabis has accounted for nearly $9.9 billion in sales and over $1.63 billion in tax revenue, according to the DOR.