Missouri’s adult-use cannabis program is already outperforming a pack of legacy markets out West, including the likes of Washington, Oregon and Nevada.
The Show-Me State’s licensed retailers have recorded more than $350 million in combined adult-use and medical cannabis sales since launching an adult-use market Feb. 3, according to the Missouri Department of Health and Senior Services.
At its current pace, Missouri, with a population of roughly 6.2 million people, will eclipse $1.3 billion in total cannabis sales in 2023. Only five adult-use states—California, Michigan, Illinois, Colorado and Massachusetts—will likely have larger sums this year.
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Since February, Missouri is averaging $117 million per month in combined cannabis sales.
Washington, a state of 7.8 million people, which launched adult-use sales in July 2014, averaged $98 million in combined cannabis sales in January and February of 2023, according to the state’s Liquor and Cannabis Board.
Oregon, a state of 4.2 million people, which launched adult-use sales in October 2015, averaged $78 million in combined cannabis sales during the first four months of 2023, according to the state’s Liquor and Cannabis Commission.
And Nevada, a state of 3.2 million people, which launched adult-use sales in July 2017, averaged $69 million in combined cannabis sales in January and February of 2023, according to the state’s Department of Taxation.
Meanwhile, Arizona, a newer market that launched adult-use sales in January 2021, averaged $107 million in combined cannabis sales in January and February of 2023, according to the state’s Department of Revenue. Arizona is a state of roughly 7.3 million people.
Much of Missouri’s early success—in terms of dollar figures—in rolling out its adult-use program includes sales traffic from its bordering neighbor states that have yet to legalize adult-use cannabis, including Iowa, Nebraska, Kansas, Oklahoma, Arkansas, Tennessee and Kentucky. Illinois is the only adult-use state to border Missouri.
In a recent podcast interview with Cannabis Business Times, John Mueller, CEO of Missouri-based multistate operator Greenlight, said Missouri’s early sales figures have exceeded even his expectations. Before Missouri voters passed adult-use legalization in the November 2022 election, Mueller had predicted the state would quickly become a billion-dollar market.
“Personally, I was thinking more of an $80- or $90-million number a month, and we hit $126 [million] in March,” he said. “We’re tracking ahead of where we thought. We’re doing a good job of keeping pricing down—no major increases. So, we’re really cutting into that black market right now.”
