Six U.S. States Set New Cannabis Sales Records This Month

Six U.S. States Report Record-Setting Cannabis Sales in August

August 2024 — Officials in Connecticut, Maine, Maryland, Michigan, Missouri, and New York have reported hitting their highest-ever monthly marijuana sales numbers in August, driven by a surge in summer purchases of adult-use products. This remarkable growth highlights the expanding acceptance and consumption of legal cannabis across the country.

Michigan Leads with Record Sales

Retailers in Michigan recorded a new high with $294.2 million in legal cannabis sales last month, according to the state’s Cannabis Regulatory Agency. This figure includes $1.26 million in medical marijuana, bringing the total to $295.4 million. This surpasses the state’s previous record and reflects a robust adult-use market.

Missouri Sees Significant Boost

Missouri also achieved notable sales, reaching $126.15 million in total marijuana sales for August. This includes a record $110 million in adult-use purchases. However, medical marijuana sales have declined, totaling $15.15 million last month, according to the Missouri Department of Health and Senior Services (DHSS). Despite this, August’s figures are the second-highest monthly sales on record for the state.

Connecticut Breaks New Ground

In Connecticut, the combined sales of medical and adult-use marijuana hit a new record of $25.6 million in August. The figure includes $17.9 million in adult-use products and $7.6 million in medical marijuana, as reported by the Department of Health and Human Services.

Maine Sets New Monthly High

Maine’s recreational marijuana sales also reached new heights in August, totaling $23.95 million, surpassing the previous record of $22.91 million set in July. The state’s Office of Cannabis Policy has reported that the increase in sales includes all product forms, from usable cannabis to concentrates and infused products. The average price per gram in Maine was slightly lower in August at $7.21 compared to the yearly average of $7.27.

Maryland Hits Record Sales

Maryland saw a record $73 million in adult-use marijuana purchases in August. Combined with approximately $27 million in medical sales, the total legal cannabis sales reached $100.62 million, setting a new overall record. The median price per gram for marijuana in Maryland stood at $9.64 for the year.

New York’s Remarkable Performance

In New York, state-licensed retailers reported approximately $97.8 million in sales for August, significantly exceeding the previous monthly record of $74.1 million set in June. This strong performance reflects the continued expansion of the state’s legal cannabis market.

Ohio’s Promising Start

Ohio, which launched its adult-use marijuana market in early August, recorded $22.5 million in sales during the first 11 days of legalization. Early indicators suggest the state is on track to surpass $1 billion in combined medical and adult-use marijuana sales within its first year.

Implications for the Cannabis Industry

The recent surge in marijuana sales across these states mirrors trends observed last December, when several states also reported significant boosts in retail sales. The increase in sales underscores the growing acceptance of cannabis and its impact on consumer habits.

Cannabis vs. Alcohol: A Growing Competition

A recent report from Bloomberg Intelligence suggests that the rise in legal marijuana access may continue to challenge the alcohol industry, potentially extending the decline in wine and spirits sales. This aligns with a multinational investment bank’s projection that marijuana will increasingly compete with alcohol, with U.S. cannabis sales estimated to reach $37 billion by 2027.

Changing Attitudes Towards Cannabis

Surveys and studies reflect shifting public perceptions. A Gallup survey found that more adults now smoke cannabis than smoke cigarettes, and Americans consider marijuana less harmful than alcohol and tobacco. Additionally, more Americans use marijuana daily compared to those who drink alcohol daily.

Legal and Social Impacts

Public opinion is also shifting regarding cannabis-related legal issues. A recent poll found that many Americans believe marijuana use is punished too harshly, and there is strong bipartisan support for expunging prior cannabis convictions.

As the legal cannabis market continues to grow, these record-setting sales figures highlight the increasing role of marijuana in consumer habits and the broader implications for industries and public policy.

Tracking Cannabis Legislation

For ongoing updates on cannabis legislation and market trends, Marijuana Moment continues to track over 1,500 bills related to cannabis, psychedelics, and drug policy. Supporters on Patreon can access our interactive maps, charts, and hearing calendar for the latest developments.