Colorado’s Weed Experiment Is a $1 Billion Pot O’ Gold
People are probably going to spend more on pot in Colorado than they will on organic food
If Colorado smokers are seeing a lot of rainbows since the state legalized pot, that’s probably not a bad thing. Because at the end of that beautiful hallucination is a massive commercial pot of gold. Colorado’s weed business is booming. There are an estimated 485,000 adults who smoke weed at least once a month in the state—9 percent of its forecasted 2014 population. That’s a lot of fans of the bud.
After about six months of an open, legal marijuana market, the Colorado Department of Revenue has issued a report that estimates the demand for marijuana in the Mountain State. Perhaps not all that surprisingly, it wildly outstrips previous predictions.
The report estimates that adult Colorado residents will purchase 121.4 metric tons of marijuana this year alone. Keep in mind, that number doesn’t even include the demand for pot by visitors to the state, which is an additional 8.9 tons. All in all, that adds up to a total market demand of a whopping 130.3 metric tons of marijuana.