Why it matters: Connecticut has reported stable revenue from legal marijuana sales, with $21 million in sales from medical and adult-use cannabis in April. This is only slightly below the sales for the month of March, when the state reported about $22 million in cannabis sales. The newly launched adult-use market recorded $10.2 million in the month of April, while the medical cannabis market brought in $11.4 million.
What they are saying: Connecticut legalized recreational cannabis for adults aged 21 and older in 2021, when Democratic Gov. Ned Lamont signed a bill that ended the prohibition and laid the groundwork for the market that launched in January.
The big picture: Connecticut joins a growing list of states that have legalized the sale of cannabis for adult use. The state’s legalization will help eliminate dangerous unregulated markets and support a new sector of their economy which will create jobs.
What to watch: The state’s data was collected through the Seed-to-Sale Tracking System. The Department of Consumer Protection does not make revenue projections, set sales expectations, collect taxes, or regulate prices. Medical marijuana patients do not pay taxes on their medicine and are not subject to individual transaction limits. The department will make future data available at ct.gov/cannabis, and the data will be updated monthly on or after the 10th of each month.
Take: Connecticut’s stable revenue from legal marijuana sales proves that, while still in its early stages, the state’s market is proving to be successful. Legalization will help to eliminate the dangerous unregulated market for cannabis, supporting a new, growing sector of the state’s economy, creating jobs, and will provide the state with benefits from tax revenue from sales.
