Michigan marijuana gross sales reached yet one more document excessive in July, with practically $277 million value of hashish bought.
Grownup-use marijuana purchases accounted for almost all of the overall, at $270,603,217. Medical marijuana gross sales had been at $6,143,046. This beats the prior document set in June by greater than $16 million.
A lot of the hashish purchases got here from flower, adopted by vape cartridges and infused edibles, the Michigan Hashish Regulatory Company (CRA) knowledge, first reported by New Hashish Ventures, shows.
The state is seeing these constant record-setting gross sales whilst the common price of marijuana has remained at document lows, with the value of an oz for adult-use hashish now hovering round $98. In December 2021, against this, the price of an oz was about $180. The common ounce for medical marijuana final month bought for $102.
Whereas the state’s hashish market has continued to mature, companies nonetheless face challenges underneath federal prohibition, together with an absence of entry to conventional monetary companies that has created a cash-intensive business that’s uniquely focused by crime.
In the meantime, former Michigan Home Speaker Rick Johnson (R), who went on to chair the state’s Marijuana Licensing Board, caught headlines in April after a federal prosecutor charged him for allegedly taking bribes in alternate for offering privileged data and help to pick license candidates. He and different defendants reached plea agreements within the case.
Michigan regulators introduced final yr that they had been issuing one other spherical of grants to assist analysis into the therapeutic advantages of marijuana for army veterans, utilizing tax {dollars} the state generated from adult-use hashish gross sales.
This time round, CRA really useful awarding $20 million in grants to 2 universities as a part of the Veteran Marijuana Analysis (VMR) Grant Program.
Officers additionally introduced final yr that the state can be distributing practically $150 million in marijuana tax income, divided between localities, public colleges and a transportation fund.
In the meantime, state officers not too long ago permitted adjustments to the state’s employment coverage, making it so candidates for many authorities jobs will now not be topic to pre-employment drug testing for marijuana.
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Michigan isn’t the one state setting hashish gross sales information.
4 Northeastern states—Connecticut, Maine, Massachusetts and Rhode Island—additionally every hit new information for hashish purchases in July.
Illinois retailers bought $140 million value of leisure marijuana merchandise in July—the strongest gross sales of the yr and second highest month-to-month complete for the state for the reason that adult-use market launched in 2020.
Maryland authorized hashish gross sales additionally hit a excessive of $87.4 million in July, the primary month for the reason that leisure market launched, state knowledge exhibits. Within the first weekend of adult-use gross sales alone, the state yielded over $10 million in mixed medical and leisure purchases.
Missouri retailers have been promoting about $4 million value of marijuana per day on common for the reason that state’s adult-use market opened up in February—and the state noticed a document $121.2 million in hashish purchases in June.
Photograph courtesy of Brian Shamblen.
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