Minnesota Cannabis Sales Hit $250 Million in First Year Since Legal Launch

ST. PAUL (WJON News) -- Minnesota's Office of Cannabis Management is announcing more than $250-million in combined adult-use and medical cannabis sales since the launch of legal sales a year ago.

Over the last year, Minnesotans have bought approximately $150-million in adult-use cannabis products and $100-million in medical cannabis products.

The OCM says the latest figures from the Minnesota Department of Revenue show that, when combined with lower-potency hemp edibles and beverages, the sales have generated $45.6-million in tax revenue for the state over a 10-month period.

The state's efforts to establish the cannabis market have been driven by ensuring that social equity applicants are at the center of the business model.

The OCM estimates that 86% of business licenses have gone to verified social equity businesses, and nearly three-quarters of cultivators are microbusinesses, suggesting small and craft businesses make up a majority of the cannabis cultivation in the state.