Missouri sells more than $126 million in cannabis in just second month of adult use sales
In only the second month of adult use sales, Missouri sold $126.2 million in cannabis in March. This follows $103 million in February sales. The sales totals put Missouri on pace to sell more than $1.4 billion in the first twelve months of the program, already making Missouri one of the top ten largest cannabis markets in the U.S.
Missouri’s Division of Cannabis Regulations announced today that in March, Missouri sold $93.5 million of adult use cannabis and an additional $32.7 million in medical marijuana sales. In March, Missouri also surpassed 14,000 direct jobs created in the cannabis industry, a significant addition to the Show-Me-State’s economy.
On Tuesday, voters in cities and counties all across the state almost universally approved local marijuana sales tax ballot measures. Unlike other states, where cities and counties have been quick to ban adult use sales, cities and counties in Missouri are embracing the economic benefits of having marijuana facilities in their communities.
“Between record cannabis sales and local communities voting to embrace the economic benefits of adult use sales, Missouri couldn’t be better positioned to make a real and lasting impact on our state economy, while being one of the most customer-friendly cannabis programs in the entire nation,” said Andrew Mullins, MoCannTrade Executive Director.
By comparison, during February 2020, the second month of adult use sales in Illinois generated less than $60 million in combined sales, with only $34.8 million coming from adult use sales, despite having twice the population of Missouri.
The start of adult use sales on Feb. 3, came less than three months after voters approved a statewide ballot initiative that made Missouri the 21st state to legalize cannabis for adult use. Only Arizona was able to make the transition from medical to adult use sales more quickly (80 days vs. 87 in Missouri).
Additionally, more than 15,000 past, nonviolent cannabis offenses have already been automatically expunged, following passage of Amendment 3 in November. The number of automatic expungements should continue to rise with each passing month in 2023.
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MoCannTrade (The Missouri Cannabis Trade Association) is an association of business owners, professionals, patients and consumers responsible for helping to implement successful, safe, compliant medical and adult use cannabis programs in Missouri.
The membership-based association is directed by a board of diverse professionals experienced in cannabis production and retail, healthcare, law, pharma, science, agriculture, law enforcement and security, finance, public affairs and regulatory sectors.
To learn more about MoCannTrade please visit www.mocanntrade.org