Oregon: Legal Cannabis Sales Begin Tomorrow

Medical marijuana is shown in a jar at The Joint Cooperative in SeattleLegal cannabis sales are set to begin in Oregon tomorrow, October 1st, making it the third state in the nation to allow such sales.

Adults 21 years of age and older will be able to legally purchase up to a quarter-ounce of cannabis and up to four cannabis seedlings from certain medical cannabis dispensaries. This allowance, approved by the legislature in July and signed by Governor Kate Brown the same month, gives adults a legal means of purchasing cannabis while the state develops a regulatory structure that will eventually govern the recreational cannabis market. That system is expected to be implemented sometime next year and will be overseen by the Oregon Liquor Control Commission.

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One Week from Today, Legal Recreational Cannabis Sales Begin in Oregon

cannabudOne week from today, on October 1st, Oregon will become the 4th state to allow for the legal distribution of recreational cannabis.

Due to the signing of Senate Bill 460 by Governor Kate Riley in July, each of the state’s 300+ medical cannabis dispensaries will be authorized to sell cannabis to anyone 21 and older, even if they’re not a patient or a resident of Oregon.

You can find a list of each of every approved medical cannabis dispensary in Oregon on the state’s official website by clicking here.

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New Study Shows Which Washington Counties Purchase the Most Cannabis Per Capita

A gram of legal recreational cannabis being sold in Washington.A new study conducted by the Washington State Institute for Public Policy has found that Klickitat County has the highest rate of per capita recreational cannabis sales, averaging $65.80 of cannabis sold for every one person since legal sales began in July, 2014.

According to the study, Clark County was second with $56.93 sold per capita, with Jefferson County coming in at third with $51.23 sold per capita.

King County, the state’s most populated county, had less than 40% of the per capita sales of Klickitat County, averaging $24.39.

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Taxes Earned from Legal Cannabis Sales Passes $200 Million in Washington and Colorado

cannabismoney1Legal cannabis cannabis sales in Colorado and Washington have garnered their states a combined $200 million in tax revenue since January 1st, 2014, according to the most recent data released by each state.

In Colorado, recreational and medical cannabis sales have brought in nearly $120 million in taxes and fees for the state. In Washington, legal cannabis sales have resulted in over $80 million in taxes for the state. Combined, over $200 million in taxes have been earned between the two states.

Legal recreational sales began January 1st of last year in Colorado, and began six months later in Washington.

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Washington: Average Price of Legal Recreational Cannabis Drops Over 50% to $11 a Gram

needle
A strain of legal recreational cannabis sold in Washington called Space Needle.

When legal recreational cannabis sales began in Washington State last year, cannabis was selling for $25 – $30 a gram, two to three times the average cost found on the blackmarket. Now, with dozens of stores open throughout the state, and with a restructured tax system, prices have plummeted to an average of $11, according to the state’s Liquor and Cannabis Board.

When legal cannabis sales began on July 8th last year, there were just a handful of cannabis outlets open. Now there are 164 outlets reporting sales throughout the state. In addition to the competition of more retail outlets reducing prices, there has been a large increase in the number of cannabis cultivators, reducing costs across the board. The state also recently eliminated the three-tier tax structure on recreational cannabis (25% at three different levels) in favor of a single excise tax (37%).

Read moreWashington: Average Price of Legal Recreational Cannabis Drops Over 50% to $11 a Gram

Legislation to Allow Recreational Cannabis Sales to Begin October 1st Passes Oregon Senate

budlegalOregon’s full Senate has voted 23 to 6 to pass Senate Bill 460, a measure that would allow recreational cannabis sales to begin this October. The measure was passed on the eve of legalization taking effect.

Senate Bill 460 would allow currently operating medical cannabis dispensaries to begin selling cannabis – including seeds and immature plants – to anyone 21 and older starting October 1st. Although those 21+ can possess up to an ounce of cannabis, or up to half a pound at a private residence, the new bill would only allow the purchase of up to seven grams, and dispensaries would no longer be able to distribute the plant once recreational outlets open next year.

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Over $2.7 Billion in Legal Cannabis Sold in the U.S. in 2014

There wascannabismoney over $2.7 billion in legal cannabis sold throughout the United States in 2014, up from $1.5 billion in 2013, according to a report released Monday by ArcView Market Research. The 74% increase makes the cannabis market the fastest growing industry in the country.

According to the report, if every state in the U.S. legalized cannabis the size of the cannabis industry would top $36.8 billion, making it larger than the organic food industry which is worth around $33.1 billion. The group predicts the industry to be worth roughly $11 Billion by 2020.

Read moreOver $2.7 Billion in Legal Cannabis Sold in the U.S. in 2014

Washington State Garners $1.75 Million in Taxes from Legal Recreational Cannabis Sales in August

New data released by the Washington State Liquor Control Board has revealed that the state garneredmoney approximately $1.75 million in taxes from $6.9 million of legal recreational cannabis sold in the month of August. The numbers are up substantially from July, where sales reached $3.8 million, bringing in around $1 million in taxes for the state.

In the first eight days of September, there’s been $1.9 million in legal cannabis sold, putting the state on track to garner an additional $1.8 million in taxes for September. In total, $12.6 million in legal cannabis has been sold from July 8th – the first day of legal sales – to September 8th.

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Lines Stretch Around Block On 2nd Day of Legal Recreational Cannabis Sales In Colorado

Yesterday Colorado made history by becoming the first state to allow stores to sell recreational cannabis since before prohibition began.

Lines were once again large outside Evergreen Apothecary on Jan. 2, 2013, for the second day of legal recreational cannabis sales in Denver.
Lines were once again large outside Evergreen Apothecary on Jan. 2, 2013, for the second day of legal recreational cannabis sales in Denver. (Photo: Kdvr.com)

On the 2nd day of legal cannabis sales in Colorado, most of the lines in front of the state’s new recreational cannabis outlets were still stretching around the block.

“The stores were ready for this,” says Tim Cullen, owner of Evergreen Apothecary, who rejects the notion that there will soon be a cannabis shortage. “We’ve been preparing for this for months. We’re well connected and friends with many in the industry. We didn’t talk to anyone who was concerned about a shortage yesterday.”

Read moreLines Stretch Around Block On 2nd Day of Legal Recreational Cannabis Sales In Colorado