Missouri is on its way to becoming the fastest state to reach $1 billion in cannabis sales, setting a new record in the United States. Since adult use was legalized and dispensaries started selling cannabis in Missouri on February 3, 2023, sales have been skyrocketing. Dispensaries like Fresh Karma have seen high sales, with the expectation that sales will continue to grow in the state.
In the first month alone, Missouri saw $31.2 million in medical use and $71.7 million in adult use, totaling nearly $103 million. With more than $1 billion in annual sales anticipated, Missouri is setting a new record in the U.S. As a result of the high demand, dispensaries have had to hire more staff to keep up with the increased demand.
The spike in sales during the Super Bowl and Chiefs Victory parade was followed by a slight dip, but dispensaries are preparing for the influx of people expected for the NFL draft and the NCAA tourney, both in Kansas City, Missouri. These events are expected to bring in many out-of-state individuals and locals, resulting in increased sales.
While the events may bring a temporary surge in sales, dispensaries expect that the high numbers will continue even after the events have ended. More people are trying cannabis now that it’s legal, leading to an increase in demand that dispensaries are doing their best to meet.
Missouri’s record-breaking cannabis sales show the potential economic benefits of legalizing cannabis. With increasing sales, dispensaries can create more jobs and generate more revenue for the state. Missouri’s success story could also encourage other states to legalize cannabis, leading to even more growth in the industry. As we continue to see the economic and societal benefits of legalizing cannabis, it’s likely that more states will follow Missouri’s lead in the future. (Source)
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