Arizona Recreational Marijuana Sales Hit Record High For October After Months Of Trending Upward

Arizonans legalized adult-use cannabis as part of the five-state green wave that occurred in the November 2020 elections. Since then, the state has stood out from the pack by quickly implementing and launching its adult-use market in February 2021. Sales took off in short order, amassing $2.9 million over the first 10 days. In March, sales reached $120 million.

Although there is no official sales data for Arizona, BDS Analytics, the leading cannabis market research company, estimates that sales of recreational cannabis reached an average of $55 million per month in July/August.

Record Highs Again In October

Weed sales soared again to record highs in October to nearly $58 million for the month, according to state tax officials, reported Arizona Mirror.

The Arizona Department of Revenue reported it had collected nearly $4.9 million in sales taxes—known as 'transaction privilege taxes' —were collected in October alone on adult-use marijuana sales.

In all, both medical and recreational programs have combined to more than $1.1 billion in cannabis sales in Arizona in the first 10 months of the year - with some $641 million in medical and $466 million in recreational.

Revenue from both cannabis programs has added more than $175 million in tax revenue to state coffers. Nearly $41 million of which went to the state’s general fund while $23 million to cities where the sales were made. Another $6.6 million went directly to fund public schools.

Image Via Pixabay.