Missouri has a new billion dollar industry.
Cumulative marijuana sales reportedly hit Show Me earlier this month, just three months after the adult-use marijuana market was launched and nearly three years after medical marijuana was legalized in Missouri. We have crossed that high threshold in the state.
Local news station KOMU reports “Missouri surpassed $1 billion in legal cannabis sales on May 2nd.” This is an impressive milestone as recreational cannabis sales continue to perform well.
In the three months since the state’s recreational cannabis market launched on Feb. 3, “Missouri has sold $350.2 million in marijuana, including $256.2 million for adult marijuana and $94 million for medical marijuana,” the agency said. We sold dollars.”
Medical marijuana sales in Missouri began in October 2020.
“For comparison, Illinois, which has twice the population of Missouri, generated a total of $188.1 million in adult sales in the first three months of January through March 2020. ” the station reported.
Early earnings were promising after the state’s recreational cannabis industry kicked off in early February.
In its first month, Missouri dispensaries collected more than $100 million in marijuana sales. Of that, $72 million is from recreational cannabis sales and $31 million is from medical cannabis sales.
Andrew Mullins, executive director of the Missouri Cannabis Trade Council (MOCann), said the month in which regulated adult-use cannabis sales began in the state was the same as recreational cannabis sales in neighboring Illinois in 2020. said to be over the moon.
“That’s more than double what Illinois did in a state with twice the population,” said Andrew Mullins, executive director of the Missouri Cannabis Trade Association at the time. It really shows interest and excitement.”
“Cannatourism people who may decide to come to Missouri to access and utilize cannabis,” Mullins added. “This also seems to be affecting sales in Missouri. .”
Mullins sang a similar song in the comments Com this week.
“Missouri’s newest multi-billion dollar industry is experiencing significant job growth, provides superior products and services to Missourians, and has become an integral part of the statewide local economy. ,” said Mullins. As quoted by the news station“Missouri has avoided many of the early problems other states experienced in transitioning from medical cannabis programs that focused on quality, affordability, access and choice. We’re off to a great start, and a huge thank you to all our patients, customers, and small business owners who have helped Missouri reach this impressive milestone.”
Voters in Missouri last year approved the Third Amendment to legalize recreational marijuana for adults 21 and older in the state.
The amendment was passed by a majority vote of 53% to 47%.
According to comthe state “currently employs more than 14,800 direct jobs in the country. [cannabis] industry, and early signs are that these jobs pay higher wages than cannabis jobs in many other states. ”
The new law also resulted in the expungement of thousands of previous pot-related convictions in the state.
of Riverfront Times reported in March “Most of the convictions that have been removed so far [were] misdemeanor. At the time, the paper noted that state courts “allowed dismissal of 6,121 counts for misdemeanors related to nonviolent cannabis offenses that did not involve selling to minors or driving under the influence of cannabis.” It reported that more than 1,200 “felony convictions have also been made.” expunged. ”
Local news station FOX4 reports As of this week, “more than 31,000 past marijuana convictions have been expunged.”
“A portion of the 6% sales tax that buyers pay on adult-use marijuana sales goes toward automatic cancellations. The state believes the number of canceled cases will increase rapidly in the coming months. ‘ said the broadcaster. report.