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.”
