$13.3 Million In CT Cannabis Sales In January
In January 2023, Connecticut had $13.3 million in sales of cannabis, with $5.1 million from recreational sales and $8.2 million from medical sales, according to the state Department of Consumer Protection. The recreational sales remained steady at around $1.5 million per week and medical sales increased from $1.8 million to $2.7 million in the first three weeks of January. There were 48,896 registered medical cannabis patients in Connecticut in January. The final week of January saw $578,840 in recreational sales and $863,287 in medical sales. The data is preliminary and does not include tax data, with medical cannabis sales exempt from sales tax. The recreational sales are subject to three taxes: the state sales tax of 6.35%, a 3% sales tax dedicated to the town or city, and a tax based on the THC content, which ranges from 10% to 15% of the sale price.
Colorado reports 2022 marijuana sales down more than 20% from 2021
In December 2022, Colorado had retail sales of legal marijuana worth slightly over $139 million, including $122.2 million in recreational sales and $16.9 million in medical sales, according to the Colorado Department of Revenue. The sales increased 6.7% month-over-month from November but decreased 17.3% from December 2021. The state’s total cannabis sales for the year 2022 were nearly $1.8 billion, representing a 20.7% decline from 2021’s record high of $2.2 billion. The cannabis market in Colorado, the most mature adult-use marijuana market in the US, is experiencing a slowdown, with wholesale prices declining in 2022 and increased competition from the legalization of marijuana in neighboring states. Since the launch of the adult-use market in January 2014, Colorado has had cumulative marijuana sales of almost $14 billion.
New medical marijuana bills introduced in Kansas Legislature
Kansas is still debating the legality of medical marijuana, with two new bills recently introduced in the legislature in an attempt to get legislation passed. Missouri, on the other hand, has seen a surge in marijuana sales, with vendors making $642 million since medicinal sales started in October 2020. Growing support for medical marijuana is happening more slowly in Kansas, with one state senator serving on the Federal and State Affairs Committee which received two bills related to medical cannabis. One bill would regulate the cultivation, processing, distribution, sale and use of medical cannabis, while the second bill says veterans would be a part of the patient system first. The Senate committee is expected to review the bills, although no timeline is available. If a medicinal cannabis bill is approved, the governor has previously stated she would sign it.
