It has been two months since the first recreational marijuana dispensaries opened their doors in Washington, and sales are skyrocketing, which has lead to an increase in tax revenue for the state.
According to Washington’s State Liquor Control Board, $12.1 million of legal recreational marijuana has been purchased since July 8, the opening day for licensed business. Total sales more than doubled in August to $6.9 million, up from $3.2 million in July. Monthly tax revenue increased from around $805,000 to $1.75 million.
September sales are on pace to be around $7.1 million, which would translate into $1.8 million in tax revenue.
The rapid sales growth is due to more dispensaries opening across the state. There were only 24 approved retail dispensaries in July when retail sales began, but that number has since increased to more than 50 dispensaries. More dispensaries are coming as officials grant additional licenses to some of the thousands of applicants.