Colorado reports 2022 marijuana sales down more than 20 percent from 2021

Retail sales in Colorado's legal marijuana market were just over $139 million in December 2022, bringing the state's annual medical and recreational sales to nearly $1.8 billion, down 20.7 percent from the record $2.2 billion in sales in 2021 and down significantly from the all-time high in 2021. The December figures include $122.2 million in recreational marijuana sales and $16.9 million in medical marijuana sales, according to data released by the Colorado Department of Revenue. Colorado, the most established adult-use cannabis market in the U.S., is experiencing the tail end of a decade-long boom for local cannabis businesses, with wholesale prices sliding in 2022 and legalization of adult-use cannabis in neighboring states Arizona and New Mexico affecting the Colorado market. Colorado reported cumulative marijuana sales of nearly $14 billion since the launch of the adult-use market in January 2014. Source: mjbizdaily.com/