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Heading into the second year of legal recreational cannabis in Missouri, people in the industry are anticipating continued sales momentum and challenges surrounding an ongoing social equity program.
2023 has been a big year for Missouri’s marijuana industry. After voters legalized recreational marijuana in November 2022, dispensaries licensed to sell medical products began selling to anyone over the age of 21 in February 2023. The state also rolled out the first round of a new social equity license program, which has posed some hurdles.
The volume of sales propelled Missouri into one of the top cannabis states. The industry hit over $1 billion in cumulative sales halfway through the year. Total sales are now approaching $2 billion.
The volume was surprising to Chase Cookson, a professor and researcher at Saint Louis University’s Cannabis Science and Operations Program. He was not expecting the current volume of sales until 2025. He anticipates 2024 to bring the same amount of sales, and possibly more.
Overall sales have dipped slightly in recent months. Sales in November totalled $112.7 million, a fall from the peak of $126.2 million in March.
The decline is led by a decline in medical sales, a trend that’s typical when a state fully legalizes marijuana and one that Cookson anticipates will continue.
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