Montana Surpasses $1 Billion In Total Adult-Use Cannabis Sales

Cannabis retailers in Montana have sold over $1 billion in cannabis
products since the adult-use market’s launch in January 2022, the Montana
Free Press reports.

Retail licensees set a new annual cannabis sales record last year of $327
million, with adult-use sales accounting for 90% of the total. Medical
cannabis has accounted for less and less of the annual sales total with
each year since the adult-use market launched.

Montana collects a 20% tax on adult-use cannabis sales and a 4% tax on
medical cannabis sales. In the four years since legalizing adult-use
cannabis, Montana has generated about $217 million in cannabis-derived tax
revenues — about $207 million from adult-use taxes, and just under $10
million from the medical market.

Meanwhile, lawmakers last year passed a bill to let tribal nations and the
state government establish compacts to legalize and regulate cannabis on a
per-reservation basis. However, Gov. Greg Gianforte (R) vetoed the proposal,
calling the legislation “unnecessary and duplicative.”