Published: Apr 7, 2021, 3:32 pm • Updated: Apr 7, 2021, 3:32 pm By Kieran Nicholson A 10-year moratorium on marijuana sales has been overturned by voters in Grand Junction. On Tuesday voters handily approved ballot questions 2A, Taxation on Regulated Marijuana, and 2B, Lifting Moratorium on Marijuana Businesses, according to voting results. On the 2A question: 9,235 voters said “yes”; with 7,309 voters casting a “no” vote. On the 2B question: 9,755 voters approved, with 7,055 voters disapproving. Read the rest of this story on DenverPost.com.
Eight years after it was first introduced, federal legislation that would give cannabis companies in Colorado and across the country access to the banking system is back in Congress. And its co-sponsors, Democrat and Republican, are sounding bullish. The Secure and Fair Enforcement Banking Act, or SAFE Banking Act, has been introduced every Congress since 2013 by U.S. Rep. Ed Perlmutter, an Arvada Democrat. It has passed the House on several occasions but never the Senate. Perlmutter expects that to change this year, he said during a conference call Friday. Sen. Sherrod Brown, an Ohio Democrat who chairs the Senate Banking Committee, has told Perlmutter that he expects the committee to debate and vote on the bill for the first time. Read the rest of this story on DenverPost.com.
Published: Mar 11, 2021, 11:49 am • Updated: Mar 11, 2021, 11:51 am By Tiney Ricciardi Colorado’s marijuana industry hit a milestone in January, topping $10 billion in sales since the legal market got off the ground in 2014. Cannabis consumers purchased $151,734,324 in recreational products and $35,869,373 in medical products during the first month of the year, for a total $187,603,697, according to sales figures released by the Department of Revenue this week. While sales remained flat from December to January, they increased significantly year over year — up 34.8% compared to the same period in 2020. Read the rest of this story on DenverPost.com.
They don’t make cannabis products like they used to, and there’s an increasing number of Colorado lawmakers who think that’s problematic. As recently as 2014, the vast majority of medical and recreational cannabis sold in Colorado was flower and only 11% was the high-potency concentrates consumed through dab rigs or vape pens. By 2019, concentrates took up a third of the market and flower was below 50%. With the rising popularity of high-THC concentrates, which are several times more potent than flower and edibles, come worries among deep-pocketed political groups and their statehouse allies that teenagers have too much access to it without enough knowledge of the effects. Read the rest of this story on DenverPost.com.
Published: Feb 9, 2021, 12:12 pm • Updated: Feb 9, 2021, 12:12 pm By Tiney Ricciardi Despite a global pandemic that disrupted many facets of commerce, Colorado’s marijuana industry experienced its most lucrative year on record with $2.2 billion in sales in 2020. According to figures released Tuesday by the state Department of Revenue, dispensaries sold $186,343,208 in cannabis products in December, up 6.4% compared to the previous month. The state collected nearly $32.4 million in taxes and fees in December, pushing the annual tax total to $387.4 million in 2020. Read the rest of this story on DenverPost.com.
The lone medical doctor in the Colorado legislature is looking to cut back the THC content on the most potent cannabis products, among other changes that would have major impacts on the state’s cannabis industry. State Rep. Yadira Caraveo, a pediatrician and Thornton Democrat, said she is still revising the bill she plans to introduce this month, but one of the main provisions would ban legal marijuana products above 15% THC — the psychoactive compound responsible for the marijuana high. The ban would apply to flower and edibles. THC in flower products can top off close to 30%, while concentrates generally run at 70-80%. “Even if it’s the start of a conversation, I think it’s an important conversation,” Caraveo told The Denver Post on Thursday. “We led the way with legalization, but it doe...
Colorado marijuana sales in November pushed the industry’s annual revenue to $2 billion for the first time. In November, dispensaries sold $175.1 million worth of products, according to figures released by the Department of Revenue on Tuesday. Recreational sales accounted for about $140.5 million, while medical sales accounted for nearly $34.7 million, the agency reported. While the total is down about 12% compared to the month prior, it was enough to help Colorado hit yet another financial milestone in an already banner year for cannabis. From January through November 2020, consumers purchased slightly more than $2 billion, the Department of Revenue reported. The previous year, dispensaries reached $1.75 billion in annual sales, a record at the time. Read the rest of this story on DenverP...
Colorado’s marijuana industry experienced a banner year in 2020 — not in spite of the COVID-19 pandemic, but because of it. Dispensaries across the state were declared essential businesses and allowed to operate while bars, restaurants and gyms were forced to close. That designation helped sales exceed analysts’ expectations. According to Roy Bingham, co-founder and executive chairman of Boulder data firm BSDA, the national market grew more than 45% to $18 billion in 2020, outpacing forecasts by about $2 billion, an increase attributable to “the COVID effect.” Cannabis consumers shopped less frequently but purchased more, including many newcomers with increased at-home time on their hands, he said. Read the rest of this story on DenverPost.com.
Colorado dispensaries sold more marijuana in the first 10 months of 2020 than they did during a record-setting sales year in 2019. October sales totaled more than $199.7 million in October, pushing the state’s annual revenue to more than $1.8 billion, according to the Department of Revenue. By comparison, sales totaled about $1.75 billion in 2019, making this the highest selling year since recreational weed hit the market in 2014. Sales were poised to crush the record following several lucrative summer months, despite the ongoing coronavirus pandemic. Colorado hit an all-time monthly high in July with $226 million in sales. That was also the first time monthly totals surpassed $200 million. Read the rest of this story on DenverPost.com.
Aurora’s nearly 400,000 residents — at least the ones 21 or older — may be able to tap on a phone screen and order up pot gummies and marijuana flower for delivery to their doorstep as soon as early next year. The Aurora City Council on Monday night gave preliminary approval, by an 8-2 vote, to cannabis delivery in Colorado’s third-largest city. The ordinance will need a second vote in two weeks, and if it passes, deliveries of marijuana could begin in early 2021. That would likely make Aurora one of the first cities in the state where consumers can place an order for recreational weed from their couch and wait for it to arrive in the comfort of their homes. Read the rest of this story on DenverPost.com.
Next year, Denverites may be able to have marijuana delivered to their homes if the city council adopts a new proposal to regulate delivery services. On Monday, the Division of Excise and Licenses unveiled drafts of three bills intended to overhaul the local industry and enable more people of color to cash in on a still-booming industry. One, the Ominbus Bill, outlines the framework to launch marijuana delivery within city limits. The other two set the stage for Denver’s hospitality program, which would allow for the opening of businesses where enthusiasts could publicly smoke, eat, vape or otherwise consume cannabis. One of the bills also removes the cap on how many dispensaries and cultivations may be established in the city, opening up the possibility for new locations for the first tim...
Weed enthusiasts purchased more than $206.4 million worth of Colorado-made marijuana products in September, as sales from a record-breaking year moderately cooled off. Recreational dispensaries sold $166,547,119 during the month, while medical dispensaries sold $39,941,149 for a combined $206,488,268 in revenue, according to data from the Colorado Department of Revenue. Sales decreased 5.5% compared to August, but are up 33% compared to September 2019 as marijuana experiences a banner year for sales despite the coronavirus pandemic. Read the rest of this story on DenverPost.com.