Cannabis in Colorado: online sales are authorized…but under conditions
In June 2023, Colorado legalized the online sale of cannabis, but these new regulations impose several restrictions. First, only adults (as defined by federal law), that is to say aged 21 and over, can purchase cannabis on the web. Home delivery is not permitted. Consumers must collect their order directly at the point of sale. Exit stores that do not have a physical presence.
Democratic Governor Jared Polis, who signed the bill, said retailers must routinely verify the name and age of customers when purchasing online and ensure that this information matches those on their ID when picking up in store.
Retailers are also required to display educational materials and warnings about cannabis use, and present a digital version of these materials to each customer, who must formally acknowledge receipt .
During a plenary session in May 2023, Republican Senator Kevin Van Winkle highlighted the bill's goal: “reducing the reliance on cash and informality in the industry cannabis”. He explained that the excessive presence of cash can lead to security problems, including thefts and robberies.
Legalization of cannabis in Colorado: what results?
Since cannabis legalization, Colorado has recorded total sales of $15.03 billion. Annually, the State generates between 1 and 2 billion dollars in revenue since 2016 in this sector. However, due to oversupply leading to lower prices, sales projections for 2023 were lower than in previous years.
In Denver, Colorado's capital and main cannabis market, the economic repercussions are alarming. Between 2021 and 2022, revenue from cannabis sales fell by 22%, marking the most significant annual decline since legalization. Another highlight: In 2021, Denver's share of the state's total cannabis sales was 31%, up from 48% in 2014.
In 2024, the cannabis sector in Colorado faces many challenges such as inflation and declining purchasing power. This situation concerns cannabis companies, who are seeing their activities decline, but also local authorities who are facing a marked drop in tax revenue. Moreover, a recent report from the Denver Post reveals that several local businesses have been forced to close down due to this difficult economic situation.
