How to get the best marijuana from Colorado dispensaries
By Brian RizzoThe most recent polls indicate that Colorado is beginning to open its recreational pot markets to the public, and that a lot of people are buying and trying the stuff.
But in the state where recreational pot was legalized last year, there are still some big hurdles that will need to be cleared before recreational marijuana is widely available in the US.
We asked several marijuana industry experts to weigh in on the latest legal and regulatory issues.
In general, we agree with the sentiment of many marijuana industry observers that the Colorado market is a mess.
The state’s cannabis industry has been slow to grow and has struggled to maintain a consistent supply for several years.
And while marijuana legalization has improved access for the public and the businesses that are trying to operate in the cannabis industry, the state’s financial situation is not so rosy.
Colorado has been hit hard by the Great Recession and its current economic challenges.
The state’s fiscal health is also a big concern, as it is the first state in the country to go through an implementation of a new banking law that will significantly impact the marijuana industry.
While many of the legal challenges have been cleared up, the financial issues that still exist are very concerning, experts said.
Here are the key issues facing the Colorado pot industry right now:What’s the current status of the recreational marijuana market in Colorado?
According to state data, the recreational market in the United States is projected to be fully operational by the end of the year.
The Colorado Department of Revenue (CDR) released a report last week that showed that retail marijuana sales in the first quarter of 2018 had totaled $2.2 billion.
But that figure includes the $1.9 billion in excise tax revenue generated by marijuana-related businesses.
While recreational marijuana sales are expected to be in the $5.6 billion range, the number is expected to grow substantially over the next few months as the first full-time retail pot shops open.
While some experts believe that recreational pot sales will continue to grow, the fact remains that the recreational system has so far struggled to keep pace with demand, said Kevin Sabet, an attorney with the Drug Policy Alliance.
According to ColoradoCare, the marijuana economy in Colorado is projected at about $9 billion, with a projected annual growth rate of 3.8%.
That’s up from the 3.2% growth in the same period last year.
But that growth rate is expected drop to 1.7% over the coming years, and it is expected that recreational sales will grow by just 0.7%.
And if that rate continues, the economic impact for ColoradoCare will be far less than the state is projecting.
According a recent study by the University of Colorado, the overall economic impact from recreational marijuana will be a mere $9.7 billion over the course of the next 25 years.
That is $4 billion less than what ColoradoCare estimates recreational pot revenues will be.
The Colorado economy is still growing, but the state needs to invest more to sustain that growth, Sabet said.
There are still a few hurdles that need to clear before recreational pot is widely distributed in the U.S. But it is hard to imagine that ColoradoCare is going to be able to accomplish all of the tasks it needs to in order to make recreational marijuana available to the masses.