Minnesota Recreational Cannabis Sales Hit $150M One Year In
Medical sales added more than $100 million as licensed retailers topped 200 and cultivators expanded inventories to about 486,000 plants, officials said.
- The Office of Cannabis Management reported Tuesday that Minnesotans purchased over $150 million in recreational cannabis products during the first year of state-licensed sales.
- Combined sales since last Sept surpassed $250 million, including over $100 million in medicinal weed purchased by 90,000 registered medical patients across the state.
- Licensed cultivators expanded inventory dramatically from around 72,000 plants last Sept to around 486,000 currently, while recreational and medicinal sales generated $45 million in tax revenue.
- More than 2 in 5 cannabis business licenses went to social equity applicants, a program designed to support communities disproportionately impacted by marijuana criminalization.
- Consumers face a total tax rate of around 22%, though the industry faces possible extinction from a federal ban set to begin in December.
18 Articles
18 Articles
Cannabis sales surpass $150M
illion worth of recreational cannabis products in the first year of sales at state-licensed stores, the state’s Office of Cannabis Management said in a press release Tuesday. The state’s 90,000 registered medical cannabis patients also bought over $100 million of medicinal weed, adding to a total of at least $250 million of cannabis sales since last September. The state’s first non-tribal recreati...
Minnesota: $250 million worth of cannabis sold in one year's legal walk One year after the opening of legal sales, Minnesota crossed the $250 million worth of cannabis sold, between recreative, medical and tax revenues.The original version of this content comes from Le Cannabiste and was written by Leo.
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