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Colorado is ground zero for a new gold rush - one with a push in recreational and medical marijuana dispensaries.
The state started out in 2000 with the passage of Amendment 20 which made Colorado the only State to legalize medical marijuana in its constitution. The market and public support for medical marijuana dispensaries slowly grew to the point where in 2012 the state's residents voted to amend their constitution (Amendment 64) again and allow recreational marijuana dispensaries and sales in the state.
Today, over 100 recreational marijuana dispensaries make their home in Denver and the immediate surrounding area. Most of the new growth in marijuana sales are coming from the recreational dispensary side.
Denver is the largest city in Colorado but other cities like Colorado Springs, Boulder and Fort Collins allow medical marijuana dispensaries.
Amendment 64 in Colorado allows the local laws to dictate the sale of medical and recreational marijuana use. For example, Denver is open for business in both recreational and medical marijuana, however Colorado Springs currently only allows medical marijuana dispensaries. Colorado marijuana dispensaries can operate from 8am until midnight. However, each municipality may have their own laws. In Denver, for example, marijuana dispensaries are required to close by 7pm.
Colorado has enjoyed the "green rush" and the current estimate is the state will exceed upwards of $1 Billion + in total recreational and medical marijuana sales in the current year.
There are currently 2,500+ marijuana business licenses that have been issued in Colorado and roughly 900 of them are dispensaries.
The number of physical dispensaries in the state is roughly 600.
The state is also seeing ramped up consolidation of dispensaries that offer mainly recreational marijuana as the price and potential profit is currently higher than the same in the medical dispensary space.
The near future is very bright in the state of Colorado, as projected sales continue to increase and the market itself matures to a level that only benefits the marijuana consumer.