Report: Colorado MJ sales expected to slow after torrid growth
Colorado’s legal marijuana sales are skyrocketing but growth is expected to come back to earth in the next five years, reflecting falling prices and a shrinking black market, 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 of the overall growth in sales.
But once that well dries