The number of active marijuana business licenses hit an all-time high of 2,971 in Colorado this year, according to the Colorado Marijuana Enforcement Division. But, medical licenses have actually seen a two percent decrease in the last year.

According to the latest Colorado Marijuana Market Report, medical marijuana businesses made up 54.5 percent of the active marijuana business licenses in 2016. That number is now down to 52.5 percent.

Meanwhile, the report shows recreational marijuana businesses have increased by two percent, up to 47.5 percent this year from 45.5 percent last year.

Paul Seaborn, an assistant business professor at the University of Denver, produces the quarterly Market Report. It keeps track of business licenses, the cities with the most licenses, and the companies with the most licenses.

The top five marijuana business license-holding cities in Colorado are Denver, Colorado Springs, Boulder, Pueblo, and Pueblo West. Trinidad and Aurora are in sixth and seventh place, respectively.

The businesses with the most marijuana licenses in Colorado are Native Roots and LivWell.

Seaborn says the future of the marijuana business in Colorado is still uncertain due to federal illegality and law changes in California and Nevada.