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1. 9/5/2021 Marijuana Sales in America Hit $1.4 Billion over the Last 90 Days - Which State Sold the Most Weed?
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WHAT STATE SELLS THE MOST WEED
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2. 9/5/2021 Marijuana Sales in America Hit $1.4 Billion over the Last 90 Days - Which State Sold the Most Weed?
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Marijuana Sales in America Hit $1.4 Billion
over the Last 90 Days - Which State Sold
the Most Weed?
Which state sold the most weed in America in the second quarter?
Posted by:
Joseph Billions , today at 12:00am
Which State Sells the Most Weed in America?
With a total of $1.4 billion in taxable cannabis sales in the second quarter, California takes the lead as the state with the
highest sales of weed in the United States of America.
3. 9/5/2021 Marijuana Sales in America Hit $1.4 Billion over the Last 90 Days - Which State Sold the Most Weed?
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This wouldn't come as a surprise to the majority, as California has always been at the forefront of the cannabis Industry
in the country.
From being the first state to approve the medical use of marijuana in 1996, to now hosting some of the biggest cannabis
farms and dispensaries in the country.
Cannabis Sales In The U.S.
The cannabis industry makes revenues worth billions of dollars from the states that have legalized either or both the
use of recreational cannabis and medical cannabis.
Sales are somewhat limited because the drug is still prohibited based on federal laws. However, this has not hindered
the popularity of the drug among patients and adults in the country.
4. 9/5/2021 Marijuana Sales in America Hit $1.4 Billion over the Last 90 Days - Which State Sold the Most Weed?
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As more pro-cannabis laws are being approved, the sales in each state are increasing.
The U.S department of commerce classifies cannabis stores under a segment called miscellaneous store retailers.
The latest figures obtained from this segment show that as of July, cannabis dispensaries single-handedly increased
sales by 3.5% from June to July.
These dispensaries cannot be referred to as "small" any longer. All dispensaries across the country are doing more than
fine.
In the last quarter, total retail sales lagged, however cannabis retail sales continued to boom. This sale contributed to
the economy in immense ways.
At the last count, 15 states have legalized recreational weed while 35 states allow medical marijuana programs for
licensed patients. Among these states, few have stood out in the way they have swiftly built infrastructures and passed
more policies for the growth of their cannabis industry.
Some of these states include California, Colorado, Michigan, Washington, Nevada, and Illinois.
The State Of California Makes The Highest Cannabis Revenue In The U.S
The total tax revenue realized from cannabis sales in 2020 is over $800 million. The medical and recreational weed
industry in California made combined sales of up to $4 billion in the past year.
California has the largest legal cannabis market across the United States. Investors troop into the state in droves
because of the amazing revenues that can be gotten from the cannabis industry.
Despite having a recreational marijuana sales market that is barely three years old, the state holds the record for having
the biggest legal recreational cannabis market, surpassing Washington and Colorado. The booming sales are projected
to continue increasing for the next months.
Deeper Insight On Cannabis Sales in California
5. 9/5/2021 Marijuana Sales in America Hit $1.4 Billion over the Last 90 Days - Which State Sold the Most Weed?
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The California Department of Tax and Fee Administration (CDTFA) released reports that state that California's taxable
cannabis sales increased by 11.2 %. Taxable cannabis sales in Q2 rose to $1.4billion.
This means that legal cannabis sales have jumped by 108% since 2019 Q2, and 24.4% since 2020 Q2.
The above figures are astonishing as they do not include medical marijuana sales or black market sales.
Sales of Medical marijuana in California cannot be taxed by the government and the Black market industry has no
trackable records for the CDTFA to observe and report on.
Analysts believe that the black market sales which are off the charts most times equal or surpass sales realized by the
regulated market.
From the regulations guiding the legal recreational market, the government generates revenue from the excise tax,
cultivation tax, and cannabis sales tax collected from the actors of the market.
Other factors contribute to the growth of the legal recreational cannabis market.
The size of the state
California has the third-largest landmass in the United States. This makes it one of the most populated states in the
country. Its landmass also makes it perfect for the cultivation of cannabis.
California grows the most high-quality cannabis in the country, hence it has a lot to be sold within and outside the state.
The Emerald Triangle which is located between Mendocino County, Humboldt County, and Trinity County produces
around 1.7 million pounds of cannabis every year, imagine how many millions this equates to— and this is not the only
site where cannabis is cultivated within the state.
Cannabis Culture
6. 9/5/2021 Marijuana Sales in America Hit $1.4 Billion over the Last 90 Days - Which State Sold the Most Weed?
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The old and young residents of California have showcased high domination of cannabis culture. In the 1960s, California
was the global epicenter for cannabis culture within the states, with residents accepting the drug for its medical and
recreational benefits. This culture has not waned and it contributes to the high sales of cannabis within the state.
Tourist Appeal
The State records a high rate of tourist visits each year. An average of 260 million tourists come into California annually.
Like Colorado, California is prepared to boost cannabis tourism in the state.
These new tourists will be able to experience the entrenched cannabis culture within the state as well as the legal use of
the drugs.
What to Expect
A study report written by Wolf Ritcher states that cannabis retail sales show a unique growth pattern that is rarely
observed in other retailer segments. Around July last year, the sales of taxable cannabis in the state were a little over
$2.6 billion and now this figure has increased by 48% to $5.1 billion.
The heavy taxation of the products might be looked into as it encourages actors of the black market to keep churning
out products with reduced costs. Residents have also learned to work around this by purchasing medical marijuana
products instead. However, despite the high taxes, thousands of people buy legal adult-use weed daily.
Bottom Line
California is a classic example of how the country's economy would grow once the marijuana industry is legalized
nationwide.
Federal laws when introduced will position other states for increased cultivation and sales. Perhaps one of these states
will be able to threaten the supremacy of the California cannabis market. It will also encourage the NAICS to create a
segment for cannabis retail sales.
7. 9/5/2021 Marijuana Sales in America Hit $1.4 Billion over the Last 90 Days - Which State Sold the Most Weed?
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Till then, California will continue to be the envy of cannabis markets around the world by making billions of dollars in
annual retail sales. It will remain a cannabis powerhouse for a long time.
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13. 9/5/2021 Marijuana Sales in America Hit $1.4 Billion over the Last 90 Days - Which State Sold the Most Weed?
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