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Minnesota Cannabis Sales Hit $250 Million in First Year
The market has also generated about $45.6 million in cannabis-related tax revenue, state officials said, as more than 300 businesses opened.
- On Tuesday, The Minnesota Office of Cannabis Management announced that combined medical and recreational cannabis sales topped more than $250 million since last September.
- More than 300 new cannabis businesses have launched in the last year as cultivator inventories skyrocketed from around 72,000 plants in September to around 486,000 currently.
- Recreational products accounted for approximately $150 million in sales while medical cannabis added $100 million; the state garnered $45.6 million in cannabis-related tax revenue over 10 months.
- More than 2 in 5 cannabis business licenses went to social equity applicants, including those disproportionately impacted by past marijuana criminalization.
- OCM Executive Director Eric Taubel stated, "I am more enthusiastic than ever" about the market, as state Department of Health data shows lower cannabis consumption among students than prior to legalization.
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First year cannabis sales reach $250 million in Minnesota
The cannabis business is big business in Minnesota. On the one-year anniversary of legalizing the sale of cannabis, the state said consumers and patients bought more than $250 million worth of products. Of that, $150 million was adult use with the other $100 million bought for medical use. The state’s Office of Cannabis Management […]
Grand Rapids Herald-Review+2 Reposted by 2 other sources
Minnesota recreational cannabis sales hit $150M one year in
Minnesotans bought over $150 million 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…
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Total News Sources13
Leaning Left4Leaning Right0Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 44%
C 56%
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