More Colorado marijuana-related business licenses were issued in 2018.

Colorado adults are buying more marijuana than ever and the number of adults going into the marijuana biz is on the upswing as well. That's according to the latest Department of Revenue data.

The Colorado Marijuana Enforcement Division reports that 66% of the marijuana bud and 86% of the edibles sold statewide last year were of the adult recreational kind. Those numbers are up from 2017 when 58% represented the bud and 83% the edible totals. That leaves medical marijuana accounting for the rest of the annual revenue collected from the Colorado marijuana industry.

Although the number of medical marijuana licenses issued was down for the first time, recreational sale licenses increased by 3%. There are now 1,577 recreational marijuana businesses in the state of Colorado. That's up from 1,520 in 2017.

That's a lot of pot shops. I wonder, "What is the market threshold? How many more marijuana businesses can one state support anyway?"

Credit: Marijuana Business Daily