Business
Missouri Is Selling $4 Million Worth Of Marijuana Per Day On Average, With Sales Reaching Record High In June, State Data Shows
Missouri has 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 last month—state data shows.
Since recreational sales started, the adult-use market has quickly overtaken the state’s medical marijuana program, which has seen sales gradually taper off after retailers started servicing adult consumers.
Via Missouri Health Department.
Collectively, Missouri has sold $592.3 million in recreational and medical cannabis products since February, when retailers opened under a legalization law approved by voters last year. And more than $1.2 billion worth of legal marijuana has been sold since 2020, according to the state Department of Health and Senior Services’s Division of Cannabis Regulation.
The industry association MoCannTrade says that the adult-use market has created 16,271 direct jobs, up from 8,571 this time last year.
“Missouri’s low-adult use cannabis tax, customer-friendly access, and diverse supply of quality products continue to drive great sales across the state this summer,” MoCannTrade Executive Director Andrew Mullins said in a press release on Friday. “Local economies across our state are also benefitting from the more than 16,000 cannabis jobs directly created in Missouri so far.”
Meanwhile, the governor signed legislation earlier this month that is meant to give banks more information about cannabis business licensees in an effort to encourage them to work with the industry despite ongoing federal prohibition.
The state has also been holding outreach events to inform the public about the forthcoming launch of cannabis microbusiness licenses that are being approved as part of a lottery system. There have been some concerns from advocates that the way the lottery is built could inadvertently exclude social equity applicants.
Missouri isn’t the only state that’s seen marijuana sales climb to record highs.
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For example, Michigan marijuana sales reached a record of nearly $261 million in June, state data shows.
Massachusetts marijuana sales reached nearly $152 million in June—a record monthly high since the state’s adult-use market launched in November 2018—state data shows.
Connecticut also saw record high marijuana sales last month, at $24 million for the sixth months since the opening of the state’s recreational industry.
In Maryland, where adult-use cannabis market launched this month, marijuana sales topped $10 million during the opening weekend.
