Montana’s recreational cannabis sales reach almost $203 million in first year

Women, minority execs show few gains in U.S. cannabis industry, according to the latest data from the MJBiz Diversity, Inclusion and Equity Report. Get your copy here.

Montana marijuana retailers sold $202,947,328 worth of recreational cannabis in 2022, the first year of the state’s adult-use program.

Including medical marijuana sales, Montana retailers sold $303,563,879 worth of cannabis last year, according to state revenue department figures reported by Helena TV station KTVH.

Total marijuana sales in December totaled $25.6 million, consistent with Montana retailers’ monthly average throughout the year.

Recreational cannabis sales in Montana slowly gained more market share than medical cannabis, with adult use accounting for 77% of total sales in December compared with 58% in January 2022.

Pepper Petersen, president and CEO of the Montana Cannabis Guild, estimated the overall sales amounted to about “40 tons” of product in the system, according to KTVH.

The 2022 MJBiz Factbook had projected first-year adult-use sales in Montana would total $215 million to $265 million and eventually reach as much as $300 million by 2026.