Michigan: $280 Million in Legal Marijuana Sold in May, All-Time Sales Near $10 Billion

In Michigan, May’s legal marijuana sales exceeded $279 million, continuing the robust performance seen in recent months.

Data from the Michigan Cannabis Regulatory Agency indicates that recreational marijuana sales totaled $278,005,199.31, slightly higher than April’s $276,685,182.93. Medical marijuana sales reached $1,607,871.79 in May, contributing to a combined total of $279,613,071.10 in sales for the month.

The cumulative total sales for recreational marijuana since its legalization in December 2019 have now soared to $8,279,708,339.69. Alongside this, medical marijuana sales have contributed an additional $1,613,819,981.22, combining for $9,893,528,320.91. The thriving sales have generated substantial tax revenues, with recreational sales alone bringing in over $1.4 billion.

May saw the average price per ounce of recreational marijuana at $88.15, marking an increase from the previous month’s all-time low of $86.61.

The number of licensed marijuana retail outlets continues to expand, with 811 retailers now operational across Michigan, an increase from 793 in April. Overall, there are 2,227 active licenses within the state’s marijuana industry, up from 2,206 in the previous month.

Since the legalization of marijuana in November 2018, and the opening of the first licensed retail outlet in 2019, Michigan residents aged 21 and older are permitted to possess up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates. Recreational marijuana is subject to a 10% excise tax, in addition to the state’s 6% sales tax.

Thank you for reading The Marijuana Herald!