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Cannabis Briefs for January 10, 2023

January 10, 2023

•Connecticut launches its recreational cannabis market today as sales begin at nine former medical dispensaries that are converting to general, adult-use sales. The state and retailers are expecting strong turnout from consumers; therefore initial recreational sales will be limited to a quarter ounce of flower or its equivalent per transaction. Connecticut’s recreational sales are expected to reach into the hundreds of millions of dollars in the first year.

•Recreational cannabis sales in Montana totaled $209.9 million in 2022, according to data from the state’s Department of Revenue. Medical marijuana sales totaled an additional $93.6 million for the year, bringing the state’s overall sum to $303.6 million last year. The market was remarkably stable month-to-month, with only around $4 million separating February’s low-water mark of $22.8 million and August’s high of $26.8 million. Montana collected $45.7 million in cannabis taxes in 2022.

•After a long delay, recreational cannabis sales have begun within Detroit city limits. The general public has been able to purchase cannabis elsewhere in the state since 2019, but a number of regulatory issues have held the city back from participating. Most notable of these were ordinances that gave licensing preference to long-time city residents that were eventually found to be “likely unconstitutional” by a judge, forcing a rewrite. The first round of retail licenses was finally issued last month. The advent of cannabis retail in one of Michigan’s largest population centers has the potential to significantly bolster sales in an already booming market.

•Costa Mesa, California-based Yummi Karma, the first licensed cannabis manufacturer in Orange County, has partnered with wholesale platform Nabis to expand distribution of its tinctures. Yummi Karma’s product line consists of various cannabis drops blended with ingredients like chamomile, lavender, and magnesium, among others, and in flavors including Blue Raspberry, Root Beer Float, and Strawberry Lemonade. Through Nabis’s network, Yummi Karma products join a portfolio of more than 200 brands that are placed in nearly 100% of California retail locations.

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