Michigan marijuana gross sales reached a file excessive in December, state knowledge reveals.
Whereas medical hashish purchases have regularly declined, the adult-use market has greater than made up for that drop, with whole gross sales hitting $221.7 million final month. That’s about $9 million greater than the earlier file set in September.
The state Hashish Regulatory Company (CRA) reveals that December noticed $208,318,037 in leisure hashish gross sales and $13,419,377 from medical marijuana purchases, as New Hashish Ventures first reported.
What’s extra, the state is experiencing this whole gross sales surge at the same time as the common price of marijuana has continued to dip, with the worth of an oz now hovering round $90. In December 2021, in contrast, the price of an oz was about $180.
A lot of the hashish purchases got here from flower, adopted by vape cartridges and infused edibles, CRA’s data reveals.
Arizona’s marijuana market has seen related traits, with the state just lately saying that hashish gross sales reached a file excessive in October. Medical marijuana purchases are additionally declining within the state, however the leisure market is on an upward trajectory.
Illinois marijuana gross sales hit a file excessive of greater than $1.5 billion in 2022—and this previous December marked the strongest gross sales month to this point—officers introduced earlier this month.
In the meantime, Michigan regulators introduced final yr that they’re issuing one other spherical of grants to assist analysis into the therapeutic advantages of marijuana for navy veterans, utilizing tax {dollars} the state generated from adult-use hashish gross sales.
This time round, CRA mentioned that it has advisable awarding $20 million in grants to 2 universities as a part of the Veteran Marijuana Analysis (VMR) Grant Program.
Michigan 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.
The state Treasury Division mentioned that the funding—made attainable from tax income generated from the state’s adult-use hashish program—consists of $42.2 million for 62 cities, 15 villages, 33 townships and 53 counties.
That’s greater than 4 occasions the extent of funding that the state paid out to municipalities with hashish tax {dollars} in 2021.
Regulators additionally introduced final yr that the they accepted the state’s first-ever social consumption web site for adult-use marijuana in Hazel Park. It stands to motive that, as that sector of the marijuana business grows, much more tax income might comply with.
Lawmakers in that metropolis additionally accepted a decision designating September as a month of consciousness of the therapeutic potential of psychedelics—making it the second metropolis to take the symbolic extra step after regionally decriminalizing pure vegetation and fungi.