Montana’s Cannabis Industry is in Full Bloom
Montana’s green rush is in full-swing as the state released data for the first 4 months of sales in the state. As of the end of April, Montana has seen just under $100 million in sales since recreational sales became legal on January 1st. You can see the data in black and white for yourself here.
Please find below some data points that I found interesting:
- Total sales across the state through the end of April tallied $98,285,465.00
- Medical sales accounted for $38,436,152 while recreational sales brought in $59,849,313. This amounts to around a 460/60 split of medical/recreational.
- The industry has now generated $13,507,309 in tax revenue for the state.
- The top counties for include: Yellowstone ($4.4 million), Gallatin ($3.6 million), Missoula ($3.5 million), Flathead ($2.7 million), Lewis & Clark ($1.9 million) and Silverbow ($1.3 million).
- The $60 million in recreational sales far outpaces the state’s initial estimates of $130 million for 2022. Not factoring for an inevitable increase in sales velocity when tourists arrive, the state looks to be projecting closer to $240 million by year’s end with total sales including medical exceeding $300 million in year one.
Montana’s rabid appetite for cannabis is not unique. With well-established recreational markets in other states now seeing billions (with a “b”) in annual sales, the sky is the limit for Montana. This first tourist season could prove to be a great bellwether for the long-term potential of the industry in the Treasure State.
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