Colorado Pot Sales Bump High in July

In July 2015 there was a 27 percent increase in sales, likely attributable to summer activities, when "Colorado residents plus tourists are out and about. I believe it drives more people to consume more alcohol and marijuana," Adam Orens, managing director of Denver-based BBC Research & Consulting and founding partner of the Marijuana Policy Group said.

In June this year, Colorado ratified a new law allowing non-state residents to purchase up to one ounce of marijuana per day. The state's marijuana excise tax allows for significant additional funding amid a substantial budget shortfall, driven by a downturn in other sectors of the state's economy.

Chris Stiffler, economist for the Colorado Fiscal Institute, splashes cold water on the figures, however. "It's in no way a saving grace for the budget," Stifler claimed. "We're certainly seeing benefits, but in no way are we supplanting the cuts to K-12, roads and higher education,"

He warned that the growth of marijuana sales will be fast but finite. "I think the state should be conscious of this," he said. "We're seeing all this crazy growth in these first few years. It's not going to be like this forever."