Montana’s adult-use cannabis industry is on track to yield $130 million—a sales prediction made by the Governor’s budget office—in its initial year of operation. Adults age 21 and over have been legally allowed to purchase a maximum of one ounce of recreational cannabis in Montana since January 1, 2022. Based on the latest revenue results, the “Big Sky Country” generated $12.8 million during its launch month. Montana’s Legal Cannabis Market Produced Millions in Tax Revenue The Montana Marijuana Legalization and Tax Initiative, A.K.A. “Montana Initiative 190,” passed in November 2020 with a vote of 56% to 43%. As per the results, 341,037 people voted “yes” and 258,337 people voted “no” to legal cannabis. Sponsored by New Approach Montana in conjunction with the Marijuana Policy Project, Montana’s recreational cannabis law has been received well by consumers. On opening weekend, the state’s newly legal adult-use market accounted for $1.5 million of the month’s total sales. Furthermore, data released by the Montana Department of Revenue indicates that statewide recreational cannabis sales remained level through the month of January–resting somewhere between $2.6 million and $2.9 million on a week-after-week basis.
Posted By, Cannabis Central, 03/08/2022 08:00:00