marijuana revenue Archives - Cannabis Business Executive - Cannabis and Marijuana industry news

Marijuana tax revenues fall short of projections in many states, including Colorado

Nearly half of Americans live in a state that allows legal access to recreational marijuana. Eleven more states, including Wisconsin and Florida, are considering legalization in 2024. One of the most common rationales for legalizing marijuana is increasing state tax revenue. How much revenue…

High times for Illinois pot industry as annual recreational sales top $1.6 billion

January 11, 2024
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Illinois
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Illinois pot shops sold more than $1.6 billion worth of recreational marijuana in 2023, the latest record year for the state’s budding industry. That’s a 5% increase from licensed adult-use cannabis sales in 2022, according to figures released Thursday by the Illinois…

Missouri

Missouri marijuana sales top $350 million during first 3 months of legalization

Hippos Cannabis has a 40,000-square-foot production facility in Vienna, Missouri, a town of 600 people that’s just 30 minutes north of Rolla. Since Missouri’s recreational marijuana sales began in February, it has added 25 workers, bringing total employees to 70.…

How falling pot prices killed a 3rd generation family pot farm in California

December 14, 2022
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California
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Brandon Wheeler has grown pot professionally for 20 years. His parents grew pot before him, and so did his grandparents. Despite these deep roots in the industry, he still felt a weight lift when he pulled his last pot plants…

Marijuana legalization could bring Arkansas $460M, study finds

September 29, 2022
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Arkansas
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Marijuana legalization could bring $460 million to the state's budget, according to a new study, but opponents said new revenue doesn't overcome increased costs. Voters will get a chance in November to weigh in on a constitutional amendment that if…

Mississippi nears $6M in revenue off medical marijuana licenses, fees

September 21, 2022
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Mississippi
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With the medical marijuana program still in its infancy in Mississippi, the state is already raking in revenue. Through Monday, the state has culled nearly $6 million in license and one-time application fees from dispensaries, cultivators, transportation companies, processors, and testing operations…

Arkansas recreational marijuana advocates say it could be $1 billion industry

September 16, 2022
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Arkansas
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River Valley Relief in Fort Smith could add up to 150 jobs. Kansas City, Kan.-based Greenlight estimates adding 100 jobs in Arkansas with $2 million in new investment. They’re just two of many medical marijuana companies operating in Arkansas likely…

Why weed companies can’t make any money

September 5, 2022
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Federal
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It’s not easy selling weed. The legal marijuana business is booming — revenues are projected to hit $32 billion this year, more than double what sales were just three years ago. They’re projected to double again in the next six years,…

Marijuana tax revenue doubles in Illinois, cannabis sales surpass $1.5 billion

Illinois has seen a 50% increase in cannabis tax revenue since last year, thanks to the booming adult-use cannabis industry. Gov. J.B. Pritzker's office said Monday that adult-use cannabis sales exceeded $1.5 billion so far this year. "Illinois has done…

Arkansas averaged $22.37M of medical marijuana per month for fiscal year

Medical marijuana finished out June for a strong fiscal year in Arkansas. For June, the final month of the budget year, medical marijuana sales generated $22.29 million in the state according to the Department of Finance and Administration. The sales…

Colorado marijuana sales dip to $153M in April

Marijuana sales in Colorado dipped to $153 million in April, according to the latest market data from the Colorado Department of Revenue (CDOR). Overall, more than $131 million in recreational marijuana was sold in the state compared to $21.3 million in medicinal…

Colorado’s March marijuana revenue highest of 2022, but still down from last year

Colorado saw an increase in its marijuana sales from February to March, but the figure is still lower than March 2021, causing concern for some in the industry. The marijuana industry brought in $162.5 million in revenue in March, $17.2…

New Jersey

Here’s how much people spent on marijuana on first day of NJ legal weed sales

Customers bought nearly $2 million of legal weed for recreational use last Thursday, the first day New Jersey medical marijuana dispensaries were allowed to sell to all adults over 21 years old. According to the New Jersey Cannabis Regulatory Commission,…

New Mexico’s marijuana sales eclipse $4 million mark

Cannabis sales in New Mexico have been smoking hot, to say the least. Recreational cannabis sales have topped the $3 million mark, since legal sales began Friday. As of 12 pm Sunday, more than $4.5 million in total sales have…

Colorado

Colorado sets record with $2.22 billion in marijuana sales last year

February 11, 2022
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Colorado
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Colorado’s marijuana industry can celebrate 2021 as a record-breaking year with over $2.22 billion in sales. The new milestone follows a trend that’s grown since marijuana sales started in January 2014. Each calendar year has welcomed higher numbers, with the…

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