Montana launched its adult-use cannabis program Jan. 1, and dispensaries sold more than $1.5 million in product during the first weekend of legal sales, according an AP News report.
The 20% tax on adult-use sales generated over $313,000 in revenue for the state, the news outlet reported.
RELATED: Adult-Use Cannabis Sales Begin in Montana
The governor’s budget office estimates that there will be $130 million in adult-use cannabis sales this year and $195.5 million in 2023, according to AP News.
Montana voters approved adult-use cannabis legalization in the 2020 election. The Legislature then passed a bill in 2021 to implement the program on Jan. 1.
Under the current law, only the state’s licensed medical cannabis businesses are eligible to serve the adult-use market through July 2023, when additional businesses can be licensed, according to AP News. Adults may buy and possess up to an ounce of cannabis or up to 8 grams of concentrate or edibles containing up to 800 mg of THC.
