Colorado sold an absurd amount of weed in 2016

Colorado's cannabis enthusiasts are celebrating after a milestone was announced on Monday.

In the first 10 months of 2016, the state sold more than $1 billion of recreational and medical cannabis and cannabis-related products, according to data released by the state's Department of Revenue. That is a monstrous amount of weed.

The record number is up from 2015's total annual marijuana revenue of $996 million.

Industry attorney Vincente Sederberg told the Cannabist that he believes sales will cross $1.3 billion in 2016.

"We think we’ll see $1.3 billion in sales revenue this year and so the economic impact of this industry -- if we’re using the same multiplier from the Marijuana Policy Group’s recent report, which is totally reasonable -- it suddenly eclipses a $3 billion economic impact for 2016.”

While Colorado was the first state to legalize cannabis, it may soon lose its top spot in terms of revenue. California recently legalized marijuana for recreational use and is expected to make major profits once it sets up its retail shops. Florida also legalized cannabis for medical use and, according to Forbes, it's projected to rake in $1.6 billion by 2020, thanks to its large population of seniors with chronic pain and illness.

Welcome to the United States of Weed, our new cash crop.