Colorado’s social experiment that is commercial pot continues to roll-out without any obvious setbacks. Among the many unknowns, a few facts begin to emerge. Revenue from retail cannabis is about 50% of the state legislature’s projection, and, as Mark Kleiman and other policy analysts have explained, with more producers entering the market, supply will undercut the price of retail cannabis, as now occurs in CO.
By DEBORAH SUTTON | March 6, 2015
More than a year has passed since Colorado’s “Green Wednesday,” when hundreds of people braved the New Year’s Day cold to queue outside the state’s 24 marijuana retail stores.
Colorado became the first jurisdiction in the world to legalize marijuana for commercial production and sale. Washington state followed six months later and Oregon and Alaska are expected to open retail shops in 2016. Other states like California, Massachusetts, Nevada and Maine, where medical marijuana and small amounts of recreational pot are legal, are expected to pass measures in next year’s elections that broaden those allowances.