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Cannabis Tax Revenue in Colorado Outpaces Alcohol & Cigarettes

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Summary: In a significant milestone, Colorado’s tax revenue from marijuana sales has exceeded that of alcohol and cigarettes, reflecting the growing acceptance and profitability of the cannabis industry in the state.

A Shift in Consumption: Colorado’s Cannabis Tax Tops Alcohol and Cigarette

Colorado has witnessed a remarkable shift in its tax revenue sources. The state’s cannabis tax revenue has now surpassed that of alcohol and cigarettes, marking a significant milestone in the cannabis industry’s growth and acceptance.

And you also can order cannabis online

The rise in marijuana tax revenue can be attributed to several factors. Firstly, the legalization and subsequent boom of the recreational marijuana market in Colorado have led to increased sales and, consequently, higher tax collections. Additionally, the state has seen a decline in alcohol and cigarette consumption, further widening the gap in tax revenues.

Colorado has been at the forefront of the cannabis movement in the United States. It was one of the first states to legalize recreational marijuana in 2012, and since then, the industry has flourished. The state’s regulatory framework, combined with a growing consumer base, has made Colorado a model for other states considering cannabis legalization.

The economic benefits of the marijuana industry are evident. Apart from tax revenues, the sector has created numerous jobs and spurred investment in related businesses, from cultivation to retail.

Colorado is also leading in psychedelics

However, the surpassing of alcohol and cigarette tax revenues by marijuana is not just an economic indicator. It also reflects a broader societal shift in attitudes towards cannabis. As the negative stigma around marijuana diminishes and its medicinal benefits become more widely recognized, more consumers are choosing cannabis over traditional substances like alcohol and cigarettes.

While this is a significant achievement for the cannabis industry in Colorado, it also underscores the importance of responsible consumption and regulation. As the sector continues to grow, ensuring consumer safety and maintaining stringent quality standards will be paramount.

Source: KDVR



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AI Disclaimer: This news update was created using a AI tools. PsychePen is an AI author who is constantly improving. We appreciate your kindness and understanding as PsychePen continues to learn and develop. Please note that the provided information is derived from various sources and should not be considered as legal, financial, or medical advice.

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The Best Cocktails To Make You Feel Festive

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Lean into the joy of the holiday season with this merry cocktails – delight your taste buds and favorite people!

According to TikTok, it s the most wonderful, stressful, fun, boozy time of year. So why not lean into the season and make merry with something fun. Here are the best cocktails to make you feel festive, no matter what the situation. Plus, these are drinks you can make quickly with minimum effort and maximum fun. Pour one of these concoctions and have a moment of peace or share them with the one you like, love or tolerate at work. Sip, savor and bring a little ho ho ho into the moment.

RELATED: Beer Sales Flatten Thanks To Marijuana

Christmas Old Fashioned

Here is a way to settle into a cozy beverage which will warm your body and soul. Bourbon has been part of the holidays for generations…and you can make this a new tradition.

Ingredients

  • 2 oz bourbon
  • 1/2 oz simple syrup
  • 2 dashes bitters
  • 2 dashes orange juice
  • Garnish: cinnamon stick and orange peel

Create

  • Combine ingredients in a mixing glass and add ice

  • Stir for 20 seconds

  • Strain into a rocks glass with ice

  • Garnish with orange peel and a cinnamon stick

White Bishop

Easy, Tasty Egg Nog

You either you love it or hate it, but Egg Nog is a holiday staple. This recipe makes it lighter, tasty and a wee dangerous since it is so good. It bring a whole new take on a staid drink.

Ingredients

  • 2 oz store bought egg nog
  • 1 oz milk (2% is the best)
  • small splash vanilla
  • 1 oz Licor 43

Create

  1. Combine egg nog, milk and vanilla
  2. Stir until well mixed
  3. Add Licor 43 and stir again
  4. Pour into a fun glass and enjoy

White Bishop

The Bishop’s Wife is a great holiday movie filled with the Christmas spirit and some never ending booze. This drink is an embraces the fun, warmth, snow, and spirit of the evening.  Perfect as a dessert drink, a morning treat or just to lift your holiday mood.

  • 2 oz vanilla vodka
  • 1 oz heavy cream
  • 1 oz Frangelico or Licor 43
  • Small splash of vanilla

Create

  1. Combine all ingredients in shaker with ice
  2. Shake for 20 seconds
  3. Strain into a martini glass

RELATED: Rainy Weather Cocktails

Poinsettia Champagne Cocktail

Nothing says celebration like bubbles. Whether you use champagne or prosecco, this is bound to bring a smile to your face. And the poinsettia is Christmas tradition since

Ingredients

  • 1/2 oz orange liqueur
  • 3 oz cranberry juice
  • 3 oz of champagne or prosecco
  • Garnish with fresh cranberries

Create

  1. Pour orange liqueur and cranberry juice into a chilled champagne flute
  2. Stir well
  3. Top with champagne
  4. Garnish with a few fresh cranberries

Have a great holiday season!



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Ready For Green And Blackout Wednesday

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The day before Thanksgiving has the honor of being two of the biggest consumption days of the year – are you ready?

While some people are prepping for Thanksgiving Thursday, the big feast and the holiday season afterwards, a significant amount are looking forward to Wednesday. The day before Thanksgiving has become a mini-holiday in its own right. It has become a time of robust celebration, so much it is known as Green Wednesday and Blackout Wednesday. It is a  significant consumption day for both marijuana and alcohol imbibers.

RELATED: Types Of Marijuana To Ease A Hangover

Blackout Wednesday, also known as Drinksgiving, has grown to rival major drinking holidays like New Year’s Eve and St. Patrick’s Day in terms of alcohol consumption. And cannabis is not far behind seeing a big spike in dispensary purchases on the same day. As legal cannabis  moved across the nation, it caught on and gave options to people who want to “unplug” at the start of the holiday weekend.

green smoke on dim light

Green Wednesday is a cannabis-centric moment the Wednesday before Thanksgiving. In in 2016, the phrase was coined when California cannabis delivery service noticed a significant uptick in orders the week before Thanksgiving. With over 50% of the country having access to legal weed, each year has only gotten bigger!

“Last year’s Green Wednesday had sales 72% higher than the average day. Flower accounted for 39.5% of sales with Vape at 23.7%, pre-rolled at 16.9% and edibles at 10.6%. Pre-rolled showed the biggest increase compared to the week before when it accounted for only 11.9%, so sales on Green Wednesday of pre-rolls specifically, were more than double a normal day.” shares Roy Bingham, Co-Founder and CEO of BDSA, one of the cannabis analytics firms.

RELATED: Holiday Hangover? Here’s How To Stop It Before It Strikes

The original partakers start Blackout Wednesday, also known as Drinksgiving or Thanksgiving Eve. They helped make it become a significant cultural phenomenon. This unofficial holiday takes place on the Wednesday before Thanksgiving and has gained notoriety as one of the busiest drinking nights of the year. The exact origins of Blackout Wednesday are not precisely documented, but the phenomenon is believed to have started decades before it was named. The term “Drinksgiving” dates back to 2007, while the first Google searches for “Blackout Wednesday” were recorded in 2014.

If you choose to celebrate, be safe, have fun, and have the ingredients for a hangover cure come the morning.

 



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Science Says Cannabis Can Be Making Us Healthier

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As it it becomes available to more people, there is a positive health change going on according to data.

Cannabis is becoming more mainstream and and the side effects are doing even better than expected.  It seems the availability of legal marijuana is helping with the health of the general population. Studies in California, Canada and the now New Zealand have shown the upside of legalization. While cannabis has been used for health benefits for millions of years, reduction in more harmful intoxication products is another important wellness trend.

RELATED: Can CBD Oils Help With Anxiety & Depression

Alcohol consumption is associated with significant health risks, including liver damage, cardiovascular issues, and certain cancers. In contrast, marijuana has not been linked to the same level of severe physical health consequences. The Centers for Disease Control and Prevention (CDC) reports that over 36,000 annual U.S. deaths are attributed to chronic alcohol use, while there is no comparable category for marijuana-related deaths. Alcohol is also much more addictive than marijuana, causing long term physical and mental issues.

A study from New Zealand has found some interesting trends regarding the relationship between marijuana legalization and the consumption of alcohol and opioids.

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Photo by megaflopp/Getty Images

Following the legalization of marijuana in New Zealand, researchers observed a notable decline in alcohol consumption:

This suggests for adults, marijuana may be serving as a substitute for alcohol in some cases, particularly when it comes to heavy drinking episodes.

The relationship between marijuana legalization and opioid use appears more complex:

  • There was no clear evidence of marijuana legalization directly reducing opioid use or abuse.
  • However, some research indicates that people who use cannabis are more likely to initiate opioid use, with an odds ratio of 2.76 compared to non-cannabis users.
  • The likelihood of transitioning from opioid use to opioid use disorders among cannabis users was found to be 2.52 times higher than non-cannabis users.

The study also revealed some additional findings regarding substance use patterns:

  • Marijuana use increased by 16% among adults aged 21 and older following legalization.
  • There was a 5-6% increase in marijuana use initiation among adolescents and young adults aged 12-20. This would be go with the greater North American trend of California sober and Gen Z drifting away from alcohol and more into marijuana.
  • No significant changes were observed in the use of hard drugs like cocaine or heroin in any age group.

RELATED: Marijuana Use And Guy’s Member

These findings suggest while marijuana legalization may lead to decreased alcohol consumption among adults, it does not necessarily translate to reduced use of other substances, particularly opioids. The relationship between cannabis use and other substance use behaviors is complex and multifaceted. Time and more research should yield more benefits.



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