February 20, 2014
“Besides underestimating the popularity legalized marijuana would have around the state, early predictions didn’t account for how many retail pot shops would open around Colorado (163 as of Feb. 18) and how much customers would be willing to pay, which, because of no standardized prices, is much higher that the $202 an ounce price forecasters has predicted last year.
These strong figures are likely a welcome indication from other states considering the legalization and taxation of recreational marijuana.
And while Washington’s retail sales don’t begin for a few months, based on Colorado’s success, it’s certainly possible that the estimated $190 million over four years could be too low.”
Read more of this article by Matt Essert for PolicyMic here.