Since the adult-use marijuana market was opened in Missouri in February, the state has sold an average of $4 million per day. Last month the state had a record purchase of $121.2 million.
The adult-use market, , has rapidly overtaken the medical marijuana program in the state, , which has seen its sales slowly taper off since retailers began servicing adult consumers.
Via Missouri Health Department.
Since February when Missouri retailers opened their doors under the legalization law passed by voters in 2016, Missouri has collectively sold $592,3 million worth of recreational and medical cannabis. According to the Division of Cannabis Regulation of the Missouri Department of Health and Senior Services, more than $1.2 Billion worth of legal cannabis has been sold in Missouri since 2020.
According to the industry association MoCannTrade, jobs created by the adult-use sector have increased from 8571 at this time last year to 16,271 direct.
In a Friday press release, MoCannTrade’s Executive Director Andrew Mullins stated that “Missouri’s low adult use cannabis tax and customer-friendly accessibility, as well as the diverse supply of high-quality products, continue to drive excellent sales throughout the state this Summer.” Local economies in Missouri are also benefited by the over 16,000 cannabis-related jobs that have been created.
The governor also signed legislation earlier this month to provide banks with more information on cannabis business licensees to encourage them to continue working with the industry, despite the federal prohibition.
has also held outreach events in order to inform the public of the upcoming launch of cannabis microbusiness licences which are being approved through a lottery system. Some advocates have expressed concern that the lottery system could unintentionally exclude social equity applicants.
Missouri isn’t alone in seeing marijuana sales reach record highs.
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State data show that Michigan marijuana sales hit a record high of almost $261 million during June.
Massachusetts marijuana sale reached nearly $150 million during June, a record high since November 2018, when the adult-use market was launched.
Connecticut saw marijuana sales reach a record $24 million in the last month. This is the sixth month since the recreational marijuana industry opened.
The first weekend of the adult-use cannabis market in Maryland saw marijuana sales surpass $10 million.
The article Missouri Marijuana Sales Hit Record Highs in June as State Data Show first appeared on Marijuana moment.
