For the first time in Colorado's 11 years of recreational marijuana legalization, Denver's marijuana sales and revenue are consistently dropping.
City data shows the descent began in the aftermath of the COVID-19 pandemic, with the first drop recorded in 2021. Compared to 2020's all-time high medical and retail sales of $715 million, the first seven months of 2024 have raked in a measly $180 million.
Revenue goes hand in hand with these numbers. Since 2021's peak revenue of $72.9 million, profit has been consistently harder to come by. 2022 raked in $56.2 million, while 2023 recorded only $48.5 million.
Shannon Donnelly, an adjunct professor of cannabis at the Metropolitan State University of Denver, told NewsNation local affiliate KDVR that Denver's dispensaries must now accommodate in-state purchases rather than traveler traffic.
Read more at News Nation Now.