Denver, Colorado, has released a new report as Colorado nears its 10-year anniversary of legal adult-use cannabis sales. The city’s local regulatory framework, it says, has reduced the size and scope of the illicit marijuana market. In 2022, law enforcement will be processing the lowest amount of illegal marijuana ever.
The report of the municipal government also gives an overview of marijuana sales and licensing trends. It shows how the recreational cannabis market has slowly overtaken medical cannabis and how sales are starting to decline. The report also explains how the tax revenue generated by marijuana sales is distributed locally and how the social equity program of the city has made limited progress.
Denver, which was the first U.S. city to open adult-use cannabis retailers in 2014 after voters approved a reform measure at the 2012 ballot, offers a case study that supports advocates’ arguments about the effectiveness of a legalized and regulated marijuana market in curbing illicit sales.
The report states that police in the city processed 2 435 pounds of illegal cannabis in 2022, a decrease of 74 percent from the time the first retailers were opened. The decline in seizures could be due to a number of factors, including a reduction in demand for unregulated cannabis products and a shift in police priorities in the legal environment.
City of Denver
In an introduction to the study, Mayor Michael Hancock (D), said: “As the legalization of marijuana continues to spread across the nation, Denver is a valuable resource to help implement and manage the regulatory framework for legal cannabis.”
The city’s team of experts is dedicated to managing a complex, ever-changing licensing and regulatory process. The work involves creating, improving, and clarifying ordinances, managing education and health initiatives and social equity. It also includes coordination of enforcement efforts and resource allocation, all in concert with industry and community,” said the outgoing Mayor who will leave office at the end of this month. “I am very proud of the foundation that my Administration has created over the last decade, and the dedicated efforts they have made to ensure the future of this industry.”
The report shows that cannabis sales have fallen for the first-time in 2022. They are down 21 percent statewide, and 28 percent locally compared to what they were in 2021.
Colorado’s medical marijuana industry, as in other states with adult-use legalization laws, has taken a back seat to the recreational cannabis market. Eighty-seven per cent of marijuana sales last week came from adult-use retail outlets, up from 45 per cent in 2014’s first year of legal recreational sales.
reports show that despite the decline in overall sales, Colorado collected $54,841,877 as cannabis tax revenue by 2022. The majority of this revenue goes to initiatives that target homelessness and affordable housing. Cannabis tax dollars also go to education, prevention and regulation.
Via City of Denver.
The report shows that a social equity program, which was implemented in the year 2021 as a way to encourage people who have been disproportionately affected by criminalization to participate in industry activities is struggling. Only 20 of the 1,017 marijuana businesses registered in the city are owned by social-equity licensees. White people make up 90 percent of the cannabis business owners compared to 4.4 percent Blacks.
In the report, the mayor stated that “Denver has set the standard for cannabis regulations and is a world leader.”
Hancock, a Colorado marijuana opponent who was initially against legalization, stated that Denver had brought non-licensed operators in compliance and created a model of collaborative marijuana management. We developed ordinances that regulate, license and tax retail and medical marijuana. Denver has adopted a management system that is responsive, agile, and quick in order to collaborate with an industry that is rapidly developing and innovative.
—
Marijuana Moment tracks more than 1,000 cannabis and drug policy bills that have been introduced in state legislatures, and Congress. Patreon supporters who pledge at least $25/month gain access to our interactive charts, maps and hearing calendar.
Discover more about our marijuana bills tracker. Become a Patreon supporter to gain access.
—
Denver, meanwhile, is also in a position to lead another national experiment – launching “service centers” for psilocybin after Colorado voters approved another reform measure that’s currently being implemented with the support of legislation , which was signed into law by the Governor last May.
Gov. Gov.
Polis also signed into law a bill which will allow online sales .
He also approved legislation that will strengthen marijuana-related protections for working professionals within the state, effectively codifying an Executive Order he issued last Year.
The state officials also want Congress to pass the bipartisan Safe and Fair Enforcement Banking Act in this session, which will address the unique financial and safety concerns of the marijuana industry.
Bipartisan Congressional Lawmakers File Numerous Marijuana And Psychedelics Amendments To Must-Pass Defense Bill
The post Denver Police Processed a Record-Low Quantity Of Illicit Marijuana as State’s legal cannabis market evolves, City Report Shows first appeared on Marijuana moment.
