Colorado was first-to-market in the cannabis space, and the stability in the market could mean fewer opportunities for significant returns.
But there's no denying Colorado cannabis is booming.
The state saw a 26% increase in 2020 sales for a total of $2.2 billion, according to BDSA data.
BDSA forecasts Colorado sales will reach $2.7 billion by 2026.
Potential investors and entrepreneurs could find immense payoffs and stability in Colorado if they can gain a foothold in the marketplace.
Colorado's Cannabis Market
Leaders in Colorado's cannabis market told Benzinga the state offers investors access to a mature market, established brands and strong performance.
The Centennial State legalized recreational marijuana in 2012.
"Colorado is the OG market in terms of adult use," said Nancy Whiteman, CEO of Wana Brands, which operates in 12 states.
The state's relatively open license structure is a plus, she said, noting that caps only exist in certain municipalities.
As the first to legalize, Whiteman said Colorado has benefited from seeing its market fluctuate several times already.
"Colorado has already gone …