Arizona’s cannabis sales record shows what the industry can accomplish

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The state’s cannabis market continues to reach new heights

Many states have evidenced a sharp decline in the medical cannabis market at the sales level. However, this does not seem to be a problem for those that have also legalized sales of cannabis for adult use. Arizona is one of them, and recreational marijuana sales continue to grow exponentially, even reaching a new monthly record.

For the eleventh time in the last year and for the eighth consecutive month, medical cannabis sales fell from the previous month in the Grand Canyon State. However, it appears that the decision voters made two years ago to legalize marijuana sales for adult use was a wise one. This market reached a new high in October 2022, with more than $85.4 million in estimated sales, according to the Arizona Department of Revenue (ADOR).

The crumbling of the medical program is no longer surprising to experts as it is a trend other states have seen, with medical markets overtaken by recreational sales in the wake of legalization. According to ADOR’s recent report, October medical cannabis sales at $31.4 million represented $1 million less than September sales.

On the other hand, recreational sales for adult use in October soared more than $5 million from September’s $80.4 million in estimated sales. That was certainly a strong recovery from a low of $68.5 million in January of last year, considered the lowest month of all of 2022. September and October mark the third and fourth times in 2022 that adult-use cannabis sales were above the $80 million mark. The report notes that tax revenues collected through October total $13.6 million for medical sales and $22.5 million for recreational.

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