Jimmy is correct. CO2 is a hypercritical liquid... it is stored as a liquid that only takes about 800psi to keep it in that liquid state. As CO2 is used, the gas space inside grows to fill the empty space until all the liquid is gone. Only then will the pressure start to drop, and drop quickly.
That's why CO2 tanks are always measured in terms of weight and filled based on weight too. The gauge will really only give you a good final warning that it is about to run out.