Colorado’s latest statistics show thatsold over $270 million of marijuana in the first three months of 2016. At that pace, sales will surpass $1 billion this year. Last year, Colorado sales totaled near $997 million.
The Colorado Department of Revenue found that more than $170 million of sales was from recreational marijuana and the remaining $100 million was from medical marijuana, reports Denver7 News.
March saw $90 million in marijuana sales, a slight decrease from February, which was Colorado’s fifth most profitable month for sales since the law was implemented in January 2014.
$3.5 million in taxes were collected from recreational sales in March. Tax revenue goes toward school construction projects. The state expects tax revenue to reach $40 million for 2016.