Average Daily Cannabis Sales Jumps to $4.2 Million in Washington State

Cannabis SalesThere 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.

Read moreAverage Daily Cannabis Sales Jumps to $4.2 Million in Washington State

Colorado: April Sets Record for Most Legal Cannabis Sold in Single Month with $117 Million

(Photo: naturalsociety.com)
(Photo: naturalsociety.com)

In Colorado, April set a record for the most legal cannabis ever sold in a single month period, with $117 million, according to BDS Analytics, a firm that tracks retail cannabis sales nationwide. This marks a 58% increase from April, 2015, and the $117 million garnered easily breaks the previous record of $101 million set in December.

The $117 million in cannabis sold in April follows roughly $270 million in legal cannabis sold January through March. In total there has been nearly $400 million in legal cannabis sold in Colorado in the first four months of 2016 (a 37% increase from the same period last year), putting the yearly total on track to surpass $1 billion.

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Colorado: Over a Quarter Billion Dollars in Legal Cannabis Sold in First 3 Months of 2016

cannabismoneyThere was over $270 million in legal cannabis sold in Colorado in the first three months of the year, according to the state’s Department of Revenue. At this rate, there will be roughly $1.1 billion sold throughout 2016, an $100 million increase from 2015, and a $400 million increase from 2014.

In March, the most recent month where sales data is available, there was $55 million in recreational cannabis sold, and $33 million in medical cannabis sold. This marks a 30% increase from March of last year.

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Legal Cannabis Sales Expected to Reach $23 Billion in 4 Years (Infograph)

Last year there was $5.7 billion in legal cannabis sales sold throughout the Untied States, According to a new report, that number is set to more than quadruple to $22.8 billion by 2020; just 4 years.

According to the newly released 4th Edition State of Legal Marijuana Markets Report from ArcView Market Research and New Frontier, most of the increase will be attributed to an large boost in recreational cannabis sales, as more states legalize the plant, and as states that have already legalized it expand the number of retail outlets in operation.

Below is an infograph, provided to us by USA Today, visualizing the above-mentioned report:

Read moreLegal Cannabis Sales Expected to Reach $23 Billion in 4 Years (Infograph)

Oregon: $3.5 Million in Taxes Garnered During First Month of Taxed Cannabis Sales

sfgate.comFebruary was the first month for Oregon cannabis dispensaries to remit the taxes they collected on their previous month’s recreational cannabis sales. In total, the state garnered nearly $3.5 million in taxes.

“Between February 1 and March 4, we posted 253 estimated marijuana tax payments to our system, totaling $3.48 million”, the Oregon Department of Revenue said in a Thursday press release. “Of those payments, 137 were made by appointment and 116 were made by mail. There were 309 dispensaries selling recreational marijuana products in January, according to the Oregon Health Authority.”

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Over $2.3 Million in Legal Recreational Cannabis Sold Each Day in Washington State

flower-power-2There is over $2.3 million in legal recreational cannabis sold each day in Washington State, according to new data released by the state’s Liquor and Cannabis Control Board.

In total, there has been $446 million in legal cannabis sold in fiscal year 2016 (which began on July 1, 2015), resulting in roughly $85 million in taxes for the state. In this fiscal year, there has been over 48,000 pounds of usable cannabis sold, in addition to over 3 million grams of extracts sold, and over 1.1 million cannabis edibles sold.

Read moreOver $2.3 Million in Legal Recreational Cannabis Sold Each Day in Washington State

Colorado: Nearly $900 Million in Legal Cannabis Sold in First 11 Months of 2015

moneyLegal cannabis has become a huge market in Colorado, with nearly $900 million purchased between January and November of last year, according to the state’s Department of Revenue; final year-end sales data won’t be released until mid-February.

In total, there was $894,865,100 worth of legal cannabis purchased in Colorado in the first 11 months of 2015, resulting in over $100 million in taxes for the state. By comparison, there was $699,198,805 in cannabis sold during all of 2014, resulting in roughly $75 million in new state taxes.

Read moreColorado: Nearly $900 Million in Legal Cannabis Sold in First 11 Months of 2015

Homicides Down Since Beginning of Legal Cannabis Sales in Denver

In one of the most drastic examples of the potential benefits of legalized cannabisColorados-Recreational-Marijuana-Task-Force, Denver, Colorado has seen a sizable reduction in violent crimes – particularly homicides – since the beginning of legal recreational cannabis sales.

Compared to 2013, 2014 saw an overall reduction in both violent and property crimes since legal cannabis sales began January, 2014. The most notable reduction was a large reduction in homicides – a roughly 25% drop – and a reduction in automobile thefts. All other forms of violent crime saw a reduction in their incidences over the same period.

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Oregon Governor Signs Bill Allowing Recreational Cannabis Sales to Begin October 1st

budAs expected, Oregon Governor Kate Brown has signed Senate Bill 460 into law, allowing recreational cannabis sales to begin on October 1st.

The new law allows currently operating medical cannabis dispensaries to begin selling cannabis – including seeds and immature plants – to anyone 21 and older starting October 1st. Cannabis sales won’t be taxed.

According to the Oregon Health Authority, there are over 200 dispensaries operating throughout the state, with dozens more planning to open sometime in the near future. Each of these locations will be authorized to sell recreational cannabis once Senate Bill 460 takes effect.

Read moreOregon Governor Signs Bill Allowing Recreational Cannabis Sales to Begin October 1st

Oregon Governor to Sign Bill Allowing Legal Recreational Cannabis Sales to Begin October 1st

Cannabis being sold at Pure Green, one of over 200 dispensaries that will be allowed to sell cannabis to anyone 21 and older under SB 460.
Cannabis being sold at Portland’s Pure Green, one of over 200 dispensaries that will be allowed to sell cannabis to anyone 21 and older under SB 460.

Oregon Governor Kate Brown plans to sign into law legislation allowing recreational cannabis sales to begin October 1st, according to an anonymous source from within the governor’s office.

Senate Bill 460, which was approved by the House of Representatives 40 to 19 and by the Senate 23 to 6, allows currently operating medical cannabis dispensaries to begin selling cannabis to anyone 21 and older starting October 1st. Cannabis sales won’t be taxed, though only a quarter of an ounce can be purchased at a time. In addition to dried flower, dispensaries will be authorized to sell cannabis seeds and immature plants. According to the Oregon Health Authority, there are 222 dispensaries operating throughout the state, with dozens more planning to open sometime in the near future.

Read moreOregon Governor to Sign Bill Allowing Legal Recreational Cannabis Sales to Begin October 1st