Sales in Montana’s new adult-use marijuana market reached nearly $12.9 million in January, the first month of the program’s existence.
Total January adult-use sales were $12,851,519.45, according to a sales table posted to Twitter by a Helena Independent Record reporter and attributed to Montana Department of Revenue figures.
The total includes recreational sales of more than $1.5 million during the first two days of 2022, the weekend the market launched.
Montana’s January medical marijuana sales approached $9.8 million, according to the sales table.
Estimated monthly tax revenue from adult-use cannabis sales was nearly $2.6 million, far outstripping the $391,335 in tax revenue from medical marijuana, which is taxed at a lower rate.
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Montana’s adult-use cannabis sales launched Jan. 1 amid concern that production might not be enough to meet demand, a common issue in new markets.
The MJBizFactbook projects that adult-use sales in the state of 1.1 million people will reach $90 million this year and $325 million by 2025.