Oregon Sells $11 Million Worth Of Recreational Cannabis During First Week of Sales

Oregon broke records in its first week of recreational marijuana sales, racking up some $11 million in sales.

According to data from the Oregon Retail Cannabis Association, sales broke $3.5 million on October 1st, the first day of retail legalization. During the first week, Oregon sales more than doubled the $5 million that Colorado saw in its first week of legalization. Washington sold just $2 million worth of marijuana in its first month.

Recreational sales in Oregon are tax free until the end of 2015, when a 25% tax will be added on. Tax revenues will go to schools, mental health programs, and state police in those cities and counties that have chosen not to ban recreational sales.

When Oregon voters legalized recreational marijuana, the state estimated tax revenues for all of 2017 would be just $9 million. Given the numbers from the first week of sales, that estimate likely falls far short.

Sources:

http://www.alternet.org/drugs/ready-weed-what-oregon-pot-sales-set-historic-record

http://m.dailykos.com/story/2015/10/08/1429336/-Oregon-s-first-week-s-pot-sales-at-11-mil-tax-benefits-for-state-may-exceed-expectations?detail=email

Photo Credit: Matt McGee

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