It has been half of a year since the first recreational marijuana stores opened in Colorado creating the first seed-to-sale legalized marijuana market in the world. To sum up how Colorado is doing after prohibition has ended, one should look to the Director of Marijuana Coordination, Andrew Freedman, who stated, “The sky hasn’t fallen.” In fact, legalized marijuana appears to have the complete opposite effect, Colorado is thriving. Between January 1st and April 1st, Colorado has collected over $10 million in tax revenue from marijuana sales. The first $40 million of all tax revenues is earmarked for Colorado infrastructure, public schools, and youth awareness programs relating to substance abuse. This is in addition to the estimated savings of $12 million that are a result from law enforcement not arresting and prosecuting low-level marijuana possession.
The world will also be looking at the University of Colorado as they are set to begin the first government-funded medical studies relating to marijuana that will finally display scientific evidence for or against the medical use of marijuana.
Most importantly, despite the Colorado media reporting on seemingly every marijuana related crime in Colorado this year, crime has dropped in Colorado well-above the national average. According to Uniform Crime Reporting for Denver, overall crime is down 10.1% from this time last year and violent crime has dropped 5.2%.
While it is still obviously too early for anyone to make a final determination regarding the good or harm legalized marijuana creates in the community, it appears that Colorado has passed its first test. If you have any questions about the regulations regarding legalized marijuana, have been charged with a marijuana related offense, or are interested in entering the retail marijuana world; you should consult a knowledgeable Colorado attorney. The attorneys at Peter Loyd Weber & Associates have experience working within the regulations of Amendment 64, call us today for a free consultation at (720)-863-7755.