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Colorado’s legal marijuana sales are skyrocketing but growth is expected to come back to earth in the next five years, reflecting falling prices, a shrinking black market, and fewer “sole-purpose” visitors buying cannabis as other state legalize adult-use sales, a new report predicts.
Legal marijuana sales surged 42.2% between 2014 and 2015, fueled by the transition away from a black market, demand from in-state residents and growth in Colorado’s population, according to the Marijuana Policy Group, a Denver economic and policy consulting firm.
According to the report, supplanting the black market accounted for 36.2 percentage points