Average Daily Cannabis Sales Jumps to $4.2 Million in Washington State
There is over $4.2 million in legal cannabis sold each day in Washington, according to data released by the state’s Liquor and Cannabis Board. This is a $400,000 a day jump from less than a month ago.
The $4.2 million in daily cannabis sales nets the state over $750,000 in daily tax revenue. For fiscal year 2017, which began on July 1st, there has already been over $155 million in legal cannabis sold, resulting in nearly $30 million in taxes for the state. The uptick in sales can likely be attributed to the fact that medical cannabis dispensaries not licensed with the Liquor and Cannabis Board were forced to shut down on July 1st due to Senate Bill 5052 taking full effect.
According to the Liquor and Cannabis Board, 415 retail licenses and 828 producer/processor licenses have been distributed.
Further data on Washington’s legal cannabis market can be found on the Liquor and Cannabis Board’s website.