Arizona’s recreational cannabis market is propelling the industry forward

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The state continues to reach new levels with its cannabis sales

Even with the decline in medical marijuana sales, Arizona’s booming recreational cannabis market appears to be doing its part to maintain a stable market. Adult-use cannabis sales have reached $85.4 million and appear to be growing steadily throughout the year.

Two years ago, voters in this state gave the go-ahead for recreational marijuana after the passage of Proposition 207, also known as the “Smart and Safe Arizona Act.” The medical marijuana market, meanwhile, is much more long-lived, having started more than a decade ago following the passage of the Arizona Medical Marijuana Act in 2010.

A new high in October of last year was reached for adult-use cannabis sales, according to the Arizona Department of Revenue (ADOR). For that period, more than $85.4 million in estimated sales were recorded, $5 million above September’s $80.4 million in sales. It’s also a big jump compared to August, when sales came in just under $78 million.

Market regulators see this as satisfactory as recreational sales have rebounded from a low of $68.5 million in January 2022, the lowest month of last year. Both September and October were the third and fourth times in 2022 that adult-use marijuana sales topped $80 million. Since sales were released to the public, ADOR said the figure has totaled more than $2.6 billion.

The medical marijuana market appears to be being outpaced by recreational sales in the wake of legalization. The same report showed that in October, sales for this market were $31.4 million, down more than $1 million from September sales of $32.5 million.