Business
Connecticut Saw A Record $25 Million Worth Of Marijuana Sold In August, State Officials Report
Connecticut broke another marijuana sales record in August, with $25 million worth of medical and adult-use cannabis purchases, state data shows.
The Connecticut Department of Consumer Protection (DCP) reported that recreational marijuana sales hit $14 million last month—another record for the adult-use market—while medical marijuana purchases amount to about $11 million. That combined $25 million is more than $2 million above the state’s prior record that was set in June.
This is also the eighth month in a row of record-breaking recreational marijuana sales since Connecticut’s adult-use program launched in January. At the same time, the cost of recreational cannabis has gradually declined since the market opened, with the average product price amounting to $39.49 last month.
August marked the fourth consecutive month where recreational sales exceeded medical marijuana purchases. People bought 354,700 products adult-use cannabis products during the month, compared to 278,395 medical marijuana products.
The department also released data showing the types of marijuana items that consumers are buying, with 53 percent of sales coming from cannabis flower, 27 percent from vape products and 10 percent from edibles.
“The preliminary data does not include taxes collected at the point of sale on adult-use transactions and is subject to further review by the department,” DCP said. “Medical marijuana patients do not pay taxes on the purchase of their medicine.”
“Adults who choose to consume cannabis are reminded to do so responsibly, including storing cannabis products in their original packaging, locked up and out of reach of children and pets,” the department added.
So far, it appears that Connecticut is experiencing the same type of commercial trends that other states have seen after enacting legalization, with the medical cannabis market gradually thinning as the adult-use system matures and expands.
Meanwhile, as of July 1, Connecticut adults 21 and older are now able to grow their own marijuana plants for personal use—one of the latest provisions of the state’s cannabis legalization law to take effect.
Ahead of that law becoming effective, DCP published a notice to remind the public about the policy change, detailing the rules and encouraging people who choose to participate to cultivate cannabis “responsibly.”
Also, Connecticut officials recently announced they are rolling out a new loan program aimed at supporting social equity marijuana businesses, providing financial assistance to help people who’ve been disproportionately impacted by prohibition expand operations in the legal industry.
Connecticut is far from the only states that saw record-breaking marijuana sales in recent months.
—
Marijuana Moment is tracking more than 1,000 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.
Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
—
In Maine, for example, marijuana sales also reached a record high in August, with nearly $22 million worth of purchases, according to new data from the state Office of Cannabis Policy (OCP).
Massachusetts retailers have now sold more than $5 billion in adult-use marijuana since the state’s recreational market launched five years ago, the state reported last week. Sales reached $139.3 million in August alone, with the year-to-date total at $1.05 billion within the first eight months of 2023.
In Maryland, officials recently announced that the the state broke anther marijuana sales record last month, with nearly $92 million worth of cannabis products sold during the state’s second month of legal adult-use sales.
Outside of the region, Illinois retailers sold $140 million worth of recreational marijuana products in July—the strongest sales of the year and second highest monthly total for the state since the adult-use market launched in 2020.
Michigan marijuana sales reached yet another record high in July, with nearly $277 million worth of cannabis sold.
Missouri retailers have been selling about $4 million worth of marijuana per day on average since the state’s adult-use market opened up in February—and the state saw a record $121.2 million in cannabis purchases in June.
DEA Defends Firing ‘Outstanding’ Special Agent For Using CBD As An Opioid Alternative
Photo courtesy of Philip Steffan.
