Colorado pot boom is going up in smoke other states worried [Video]

While history was made in Colorado in 2014 when marijuana became legal for recreational use, a new report has highlighted some of the issues facing the state’s weed market and what other states could see happen.

The report from Politico highlighted several issues that could soon hit the other 24 states that have legalized weed for recreational use.

From regulatory burdens to an oversaturated market and competition from nearby states, Colorado’s cannabis industry has been in havoc, with many in the state abandoning their businesses.

Let’s rewind the clock.

In 2021, Colorado’s cannabis market saw record sales totaling $2.2 billion, coming off a $2.19 billion year in 2020. Compared to pre-pandemic numbers, this was a massive boom, as 2019 saw $1.7 billion in sales.

Fast forward and the trend has since reversed, with 2022 only having $1.7 billion in sales and 2023 being the state’s weakest year since 2017, with only $1.5 billion being brought in.

The drop …