Arizona Weed Sales Top Billion in 2022
Cannabis sales in Arizona exceeded $1 billion dollars in 2022 as the state’s recreational marijuana market experienced strong growth in its second year of sales. Total weed sales came to $1.4 billion last year, according to data from the Arizona Department of Revenue, an amount roughly equal to the cannabis sales recorded in 2021. Adult-use cannabis sales for 2022 reached $950 million, soaring to 70% of the state’s total marijuana sales for the year. Sales of medical marijuana were down significantly over the previous year, however, dropping to just over $500 million in 2022. Arizona’s recreational marijuana retailers closed 2022 with the strongest month of the year in December, ringing up about $86.6 in adult-use cannabis sales, up slightly from the $85.8 million recorded the month before. Sales of medical marijuana continued the downward trajectory prompted by the legalization of recreational cannabis, dropping slightly from $31.9 million in November to $31.1 million for the last month of 2022. Arizona legalized recreational marijuana in 2020 with the passage of Proposition 207. Known as the Smart and Safe Act, the ballot measure was approved by 60% of the state’s voters. Licensed sales of recreational marijuana began in the state on January 21, 2021, less than three months after the ballot measure succeeded at the polls. A separate ballot measure, Proposition 203, legalized the medicinal use of cannabis in Arizona in 2010 with just over 50% of the vote. The first licensed medical marijuana dispensary in the state began serving patients on December 6, 2012. Combined, the state’s medical marijuana and adult-use cannabis retailers have sold a total of $2.9 billion since recreational marijuana sales began two years ago. More Reforms Still Needed in Arizona Cannabis advocates in Arizona say that the state has made significant strides in reforming the state’s marijuana policy.…
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Source : Arizona Weed Sales Top Billion in 2022
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