Updated: July 10, 2014 at 6:05 pm
Six months into marijuana legalization, the Colorado Department of Revenue has issued a new report outlining findings about the size of the newly legal market. It turns out that the demand for marijuana far exceeds earlier estimates; according to the report, statewide demand is at a whopping 121.4 tons per year.
That’s 31 percent higher than a previous Department of Revenue estimate and 89 percent higher than an oft-cited study by the Colorado Futures Center.
And while the vast majority of the increase is the result of resident smokers consuming more than expected, the growth of the retail market — particularly among tourists — is a promising sign for the success of legalization.
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