Denver, CO: Sales of retail cannabis products continue to surge in several states.
In California, sales of adult-use marijuana products totaled $348 million in July, the highest amount ever reported in the state in a single month. Similarly, marijuana-related sales in Colorado totaled just under $199 million in June, also a record high. Recent sales data in other states – including Illinois, Michigan, Oregon, Oklahoma, and Florida – also show record high monthly totals.
According to a recent economic analysis of 24 state-legal cannabis markets by New Frontier Data, “One unanticipated effect of the COVID-19 pandemic has been the growth acceleration of legal cannabis markets (and erosion of the illicit markets) in those states which have activated both medical and adult-use sales.”
Numerous state and local regulators have designated marijuana-related dispensaries as “essential” businesses during the pandemic – allowing them to provide uninterrupted, and in some cases, expanded services during the pandemic.
For more information, see the NORML Fact Sheet, “Marijuana Regulation: Impact on Health, Safety, and Economy.”