For just the third time in Rhode Island, monthly marijuana sales have surpassed $10 million.

According to data released by the Rhode Island Department of Business Regulations, $10,080,639 worth of marijuana and marijuana products were sold legally in May, marking just the third time legal sales have passed $10 million (following December 2023 and March 2024). It falls short of the $10.22 million record set in December.

Of the $10.2 million in marijuana sold, $2,157,437 was purchased by medical marijuana patients, while $7,923,202 was purchased by recreational consumers. The average transaction amount in May was $37.32.
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The director of an initiative campaign in Arkansas to expand medical marijuana and create a trigger for the legalization of recreational marijuana is “confident” the initiative will make the November ballot.

In February Arkansans Attorney General Tim Griffin gave approval to the ballot language of an initiative submitted by Arkansans for Patient Access. The group must collect 90,704 signatures by July 5 in order for the measure to appear on the November, 2024 general election ballot. Now, Bill Paschall, managing director of the Arkansas Cannabis Industry Association who’s leading the canvassing effort for the Arkansas Medical Marijuana Amendment of 2024, says he’s “confident” that enough people will sign the initiative for it to be voted on this November.

“The ballot access effort is on track and we are confident 90,704 registered voters will sign a petition to put the Medical Marijuana Amendment of 2024 on the November ballot”, says Paschall. “Arkansans are excited about barriers to access being eliminated and the cost of obtaining a card reduced.”

The initiative would expand the state’s medical marijuana law, passed in 2016, to allow patients to grow their own marijuana at a private residence, with the limit set at seven mature plants and seven immature plants, and it would remove the retail prohibition on certain smokeable marijuana products such as pre-rolls.
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In May, licensed marijuana stores in Oregon sold over $80 million worth of product for the third straight month.

According to recent data from the Oregon Liquor and Cannabis Commission, there was $81,976,813 worth of marijuana and marijuana products sold legally in May.  This is approximately half a million dollars more than the previous month, and around $2.5 million more than May 2023.

Since the start of legal marijuana sales in October 2016, cumulative sales have now surpassed $6.623 billion, resulting in $1.2 billion in tax revenue. Through May, there has been around $400 million in total sales for 2024, bringing in nearly $70 million in taxes.
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Monthly marijuana sales in New Mexico surpassed $50 million in May.

According to data released today by the New Mexico Regulation & Licensing Department, the state saw $51,200,880.26 in legal marijuana sales during May, spread across 1,212,097 transactions. This represents an increase of roughly $100,000 over total sales for April.

In May, recreational marijuana sales totaled $38,682,534.61, while medical marijuana sales reached $12,518,345.66. There were 958,361 recreational marijuana transactions and 253,736 medical marijuana transactions. Continue reading

The average price of legal marijuana has reached a historic low in Oregon.

Recent data from the Oregon Liquor and Cannabis Commission reveals that the average price for dried marijuana flower in licensed marijuana stores has fallen to $3.60 per gram—the lowest recorded rate. Additionally, the price for marijuana concentrates has dropped to a new low of $15 per gram, down from a previous stable average of $16.

These figures position Oregon as the state with the most affordable legal marijuana prices in the nation. For comparative context, Massachusetts, the next closest in terms of low prices, sells its marijuana flower at $5.36 per gram.
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Federal legislation that would explicitly allow banks to work with licensed marijuana businesses has garnered its 123rd bipartisan sponsor in the US House of Representatives.

The SAFE Banking Act (H.R. 2891) now has 123 sponsors, with Congressmember Dan Goldman (D-NY) becoming the latest to join as a cosponsor yesterday. The proposed law would provide federal protections for banks and credit unions that offer financial services to marijuana businesses legal under state laws. This would cover medical marijuana dispensaries in the 38 states where they are legal, as well as recreational marijuana stores in the 23 states where they are allowed.

Additionally, the legislation would allow state-legal marijuana businesses to take standard IRS tax deductions, which is currently prohibited.
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The legal sale of marijuana in Illinois amounted to roughly $170 million in April, according to the Illinois Department of Financial and Professional Regulation.

The sales total, specifically $169.6 million, includes dried marijuana flower and various products like concentrates, edibles, and topicals.

Of this amount, $144.5 million was purchased by recreational consumers, while medical marijuana patients accounted for $25.1 million. Although April’s total represents a slight decrease from March’s $174 million, it shows an increase compared to February’s $160 million and January’s $158 million. The year-to-date marijuana sales in Illinois now approximate $660 million.
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