States continue to post record cannabis sales in the face of the COVID-19 pandemic and the ensuing economic downturn, further evidence the marijuana industry is capable of weathering the recession.
Here are three recent reports:
- Colorado set a record in July, for the first time exceeding $200 million in one month. The Denver Post reported recreational and medical marijuana stores combined for $226.4 million in revenue, up 13.8% from June. Sales are at more than $1.2 billion for the year.
- In Illinois, recreational cannabis stores sold almost $64 million during August, surpassing the record set in July by more than $3 million, according to the Chicago Tribune. Adult-use cannabis stores have sold more than $360 million since the state began legal recreational sales this January.
- Ohio set a record for medical marijuana sales at around $21 million for July, the most MMJ sold in one month since January 2019 though much lower than other comparable MMJ programs such as Maryland’s, according to Crain’s Cleveland Business. The state has recorded $120.1 million in total marijuana sales so far in 2020. That easily surpasses the approximately $56 million in total sales in all of 2019.