Cannabis sales in the U.S.: mid-year results

There are currently 8 states in the United States that have legalized recreational cannabis, and 29 states have legalized medical cannabis.Across the Atlantic, nearly 65 million people have access to recreational cannabis sales. Even though the use, sale, possession, cultivation, or transportation of cannabis remains illegal at the federal level, the cannabis industry is booming and generating billions of dollars. Here is a breakdown of sales in states where recreational cannabis is legal for the first six months of 2017.

Nevada

Nevada has legalized recreational cannabis last November, following a vote in favor of legalization by a margin of 53.8 %. The Cannabis sales have begun on July 1, and have broken all records in just 4 days, generating nearly $500,000 in tax revenue. In this state, where tourists flock, the sale of cannabis poses some concerns.

Under federal law, it is illegal to consume cannabis in public places. As a result, tourists can buy cannabis but have no legal place to consume it. Armen Yemenidjian, the owner of a dispensary, stated in CBS News : «About 70 to 80% of my customers are tourists. They don’t have a private place to go because they don’t live in Las Vegas.» The cannabis industry wants to establish legal coffee shops where people can consume cannabis, as is the case in Amsterdam, but for now, federal law prohibits its consumption.

Colorado

Colorado is one of the first U.S. states to have legalized recreational cannabis. The state now has more than 2,500 dispensaries. In Colorado, there are more dispensaries than there are McDonald’s and Starbucks locations combined.

In August 2017, Colorado’s cannabis dispensaries generated more than $750 million in sales, according to the latest published tax data by the government. This amounts to nearly 116 million dollars in tax revenue.

Cannabis Sales in the State of Colorado Over the Past Year

It is evident that sales of cannabis products (strains, concentrates, edibles) for medical or recreational use increased by approximately 25% in June 2017, compared to June 2016. It should be noted that Colorado reached half a billion dollars in tax revenue last month, since Sales of recreational cannabis began in 2014.

Oregon

Oregon has legalized recreational cannabis since November 2014. Residents of the state may possess up to 224 grams of cannabis and grow up to 4 cannabis plants.

Last March, economist Beau Whitney announced that recreational cannabis in Oregon was boosting the economy. In fact, the Recreational cannabis was already generating $1.2 billion. However, the current figures have not been released by government economists.

Alaska

Alaska legalized the sale and possession of cannabis in 2014. In that state, residents are allowed to possess up to 28 grams of cannabis and may grow up to 6 plants per household.

Cannabis Sales in Alaska Over the Past Year

According to data from the Alaska Department of Revenue As shown above, cannabis sales in Alaska nearly doubled in May and June 2017, marking a significant summer increase. This generated more than half a million dollars for the state, a record for Alaska.

Washington State

In Washington State, residents have been able to use and purchase cannabis for recreational purposes since June 2014. The law was passed in November 2012.

Cannabis Sales in Washington State Since Sales Began

To date, Washington State dispensaries have sold more than $2 billion worth of cannabis since the program’s inception in 2014. Last month’s cannabis sales generated more than $29 million in taxes, according to the chart above. Thus, Washington State’s tax revenue totals $401 million, according to the website Washington i502 Marijuana Sales Data.

In addition, Maine and California legalized recreational cannabis in November 2016, but sales at dispensaries will not begin until 2018. California hopes to revive its economy. A cannabis company For example, he bought an entire village in the hope of attracting new customers and capitalizing on the legalization of cannabis.

Mehdi Bautier