Colorado’s cannabis sales have peaked in 2017 with more than $1 billion from the combined sales of medical and social cannabis.

Counting more than a 20 percent increase in overall cannabis sales, the state continued to break its own performance records from the previous years.

It took the state 8 months to reach $1 billion in sales; in 2016, it took 10 months to reach the same milestone.

In August, the majority of the sales came from flower, edibles, concentrates and accessories, that rounded up at $100.3 million, and another $37 million was earned through the medical cannabis community.

It was apparent that sales were going to increase in Colorado, as the state’s dispensaries had already sold slightly over $126 million worth of cannabis products in February, a 15 percent increase from January. The state has also generated over $500 million in tax revenue since it launched its retail cannabis industry in 2014, as Fox31 Denver news states in a recent article.

This new revenue stream is aiming to improve the public education system, strengthen criminal justice and substance abuse programs, as well as helping the homeless.

Economists and state officials have projected that the annual rates for cannabis sales may slow down as other states legalize social cannabis.