This morning, Colorado made history as its new marijuana law went into full effect. Recreational marijuana retailers opened their doors to customers — including an Iraq war veteran — for the first time in U.S history.
Colorado residents who are at least 21 can buy up to an ounce of marijuana in one transaction, while people from out of state can buy a quarter ounce. The state projects $578.1 million in annual revenue from combined wholesale and retail marijuana sales to yield $67 million in tax revenue.
In Washington, where voters passed a similar measure, retailers will begin selling marijuana around June. The state has received 867 retail license applications as of late December.