The State Office of Cannabis Management is providing insight into the first two years of legal sales and highlighting significant milestones with the publication of their 2024 Market Report.
Total retail sales topped $1 Billion with $869 Million generated in 2024 alone.
More than 260 operational dispensaries statewide contributed to the success, nearly tripling in 2024.
The OCM is also noting the success in awarding licenses to Social and Economic Equity applicants, who now hold 55% of licenses, exceeding initial targets.
The report also highlights product market trends. The report shows consumer preference has shifted towards non-flower product categories, including vaporizers, edibles, and concentrates.
It also addresses challenges such as ongoing enforcement efforts against illicit markets, price compression observed in mature markets nationwide, and the potential impact of proposed federal cannabis policy reforms.
Total retail sales topped $1 Billion with $869 Million generated in 2024 alone. Read More
