Missouri marijuana sales reached an all-time high of $126 million in March. This is the second month since adult-use stores opened in Missouri after legalization was approved by voters last November.
$126.2 million is a combination of medical cannabis purchases ($32.7million) and recreational sales ($93.5million) in March. This represents a 22.4 per cent increase in sales compared to February’s total of $103 millions.
Via Division of Cannabis Regulations.
According to a projection from Greenway Magazine, Missouri could reach $1 billion in combined cannabis sales by the end of this year.
The total cumulative sales for all of the history of the medical marijuana program, and the nascent recreational cannabis market, is approaching the milestone of $1Billion. It currently stands at $871.4 Million.
According to MoCannTrade, the Missouri Division of Cannabis Regulations stated that 14,000 jobs had been created in the cannabis sector since March. Regular job growth monitoring has been done by regulators.
In a press release, Andrew Mullins, MoCannTrade Executive Director, stated that Missouri is in an ideal position to have a lasting and positive impact on the state’s economy and be one of the most customer-friendly programs in the country.
It is expected that the industry’s economic impact will continue to grow, especially after local marijuana tax initiatives were approved by voters in dozens cities and counties throughout the Show-Me State.
The praises for the state Department of Health and Senior Services have been heaped on them for setting up a regulated adult market that it began planning for before last November’s election.
regulators approved the opening of the first dispensaries that would sell marijuana to adult customers in February. They also began accepting applications from people who wanted to grow their own cannabis.
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Missouri is not the only state with strong marijuana sales. Markets across the U.S. are growing and maturing.
New Mexico’s governor recently celebrated the one-year anniversary of its adult-use marijuana marketplace . He highlighted the state’s more than $300,000,000 in sales from April last year, as well as the thousands and jobs that the cannabis industry has created.
In Arizona, The year-end total of 2022 adult-use cannabis sales was $1.4 billion.
After its launch in 2018, Massachusetts’ recreational market surpassed $4 billion in sales.
A top Wisconsin senator released a recent legislative analysis showing how much Wisconsin lost to Illinois last year. The analysis showed that Wisconsin residents without a regulated market were spending more than $121,000,000 on marijuana .
Missouri’s House is now one step closer to passing legislation that would legalize psilocybin treatment for certain patients. It also promotes research into the psychedelic, and expands the state’s “Right to Try” law for severely ill people.
After was first considered in the chamber last Wednesday, the next step is to get a final vote by the House before possibly moving to the Senate.
Texas House To Vote Next week On Allowing Medical Marijuana as an Opioid Alternative and Replacing THC Limit
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