Among the legal recreational marijuana states that have operating marijuana stores and regularly report sales data, there was over $4.5 billion in legal marijuana sold between June 1 and August 31 of this year.
There are currently 24 states that have legalized recreational marijuana, with Ohio being the most recent do to so last week. Among these states, nearly all allow marijuana retail outlets, though some states have legalized too recently for these to be up and running (Minnesota, for example).
Among the states that do currently have legal marijuana stores and report sales data, there was a whopping $4.52 billion worth of marijuana and marijuana products sold between the start of June, and the end of August, according to an analysis by The Marijuana Herald.
States included in this number:
- New Mexico
- Rhode Island
Among these states California – perhaps unsurprisingly – saw the highest sales with over $1 billion, followed by Michigan with over $800 million and Massachusetts with $459 million. Rounding out the top five was Illinois with $415 million and Missouri with $363 million.
Marijuana tax rates vary substantially from state-to-state, and several states don’t report tax data, making determining taxes from these sales a bit difficult. However, based on the data we do have from state agencies, the $4.5 billion in sales resulted in well over half a billion dollars in tax revenue.
Colorado ands Washington were the first states to legalize recreational marijuana in 2012. In the 11 years since, 22 other states have done the same. Florida could become the 25th legal marijuana state with voters set to consider a legalization initiative next year.