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Arizona adult-use cannabis sales hit $2.9 million during initial 10 days

Adult-use cannabis sales in Arizona reached $2.9 million in the first 10 days that sales were permitted, according to figures released by the state.

Recreational sales in Arizona began Jan. 22 after 73 of 130 licenses were approved by the Arizona Department of Health Services.

Medical cannabis dispensary operators were granted first crack at the new adult-use licenses.

The Arizona recreational market launched less than three months after voters approved adult-use sales during last November’s general election.

There is a delay in Arizona’s recreational sales reporting because marijuana taxes are collected a month after transactions occur.

The state collected $226,355 in tax revenue on the sales.

Marijuana Business Daily projects that Arizona’s recreational market will reach $375 million-$400 million in its first full year of sales and more than $700 million yearly by 2024.

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