Marijuana sales in Colorado hit a new high with the debut of pot vending machines. The tax levied on recreational marijuana sales in Colorado is expected to rake in an estimated $98 million in revenue this year. This exceeds the state's original expectation by 40%.

Colorado is the first state to have levied sales and excise tax on recreational marijuana from January 1, 2014. According to a report, legal sale of marijuana in Colorado will reduce the size of the black market and lend scope for tax revenue creation.

The funds collected from marijuana sales in Colorado are slated for school construction and treatment of deterring young people who are using the drug.

School districts are likely to get $40 million or approximately 30% from the projected $134 million to be generated from marijuana tax system.

Amidst growing concerns on the legalization of recreational marijuana, a Moody's analyst, Andrea Unsworth cautions, "that tax revenues were still a very small fraction of the state's overall budget. It's not going to sway things too much in one way or another," The Daily Chronic reports.

Supporting the viewpoint that decriminalization of marijuana would likely reduce policing costs, the Zazzz pot vending machine makes its debut.

Surrounded by angst and excitement around the new legalization norms for marijuana sales in Colorado, the people of the state may soon get to experience an ultra-convenient option to buy their pot.

A pot vending machine that dispenses medical marijuana and THC-laden snacks, called the "Zazzz" was unveiled at an event in Colorado. The machines uses biometrics to verify a customer's age and is also climate-controlled to keep the products biologically fresh.

The Zazzz will soon be seen at licensed marijuana-dispensing stores in Colorado. The first machine will be placed at Herbal Elements, a marijuana dispensary in the Eagle-Vail region of the state.

"We're looking forward to using the Zazz machine to easily track all this inventory ... we're going to eliminate the middle man," said Herbal Elements owner Greg Honan as UPI reported.

"It'll go straight from the bud-tender right into our machine. There's no room for theft by patients, employees ... there's no way to lose track of the inventory."

Once the marijuana distribution technology gets rolling, Zazzz will see competition from Endexx and Medbox, who also aim to explore an untapped potential in the automated marijuana distribution industry that leverages technology with supportive government norms to boost sales in the state.

Besides Colorado, Washington is the only other state to have legalized marijuana sale for both medical and recreational purposes.