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Marijuana Sales In US Hit $1.4 Billion Over Last 90 Days

cannabis leaf on US money

Which state sold the most weed in America in the second quarter?

With a total of $1.4 billion in taxable cannabis sales in the second quarter, California takes the lead as the state with the highest sales of weed in the United States of America.

This wouldn't come as a surprise to the majority, as California has always been at the forefront of the cannabis Industry in the country.

From being the first state to approve the medical use of marijuana in 1996, to now hosting some of the biggest cannabis farms and dispensaries in the country.

Cannabis Sales In The U.S.

The cannabis industry makes revenues worth billions of dollars from the states that have legalized either or both the use of recreational cannabis and medical cannabis.


Joe Biden Can No Longer Hide From Cannabis Legalization Efforts

Joe Biden American Flag

Cannabis legalization efforts in Congress have been a series of hits and misses during the Joe Biden administration, even as Congress juggles more cannabis-related bills than ever before. There are currently 35 cannabis-related bills in Congress—26 in the House, nine in the Senate.

The foot-dragging on cannabis legalization wasn’t the plan when Biden got elected. Many industry stakeholders expected a slam dunk on legalization when he took office. 


Hemp Farmers Giving Up As Prices Keep Falling

hands holding cannabis plant

As hemp prices continue to fall, farmers are leaving. When the Farm Bill of 2018 passed, farmers rejoiced at the ability to legally grow hemp. Visions of massive demand for CBD products caused farmers to plant thousands of acres.

Indeed, it seemed a sure-fire thing. Seemingly overnight numerous products on retailers’ shelves had some version with CBD included. Body products, foods, and supplements all touted the benefits of having CBD added. Then it all fell apart as several problems combined to crash the market.


What Is Preventing Cannabis Legalization In The US?

USA Capital building


Cannabis legalization in some form or another is legal nearly everywhere in the U.S. As of August 2021:


Current Trends in Banking for Cannabis-Related Businesses

money roll

Cannabis is still federally illegal and is included on Schedule 1 of the Controlled Substances Act (CSA), along with such other substances as heroin, fentanyl and methamphetamines.1 It is a federal crime to grow, possess or sell cannabis.

Despite being federally illegal, 36 U.S. states and the District of Columbia have legalized the sale and use of cannabis for medical and/or adult use purposes,2 and both direct and indirect cannabis-related businesses (CRBs) are growing at a rapid rate. Revenue from medical and adult use cannabis sales in the US in 2019 is estimated to have reached $10.6B-$13B and is on track to reach nearly $37B in 2024.3


Despite changing policies, two MMA fighters have been suspended for weed

mma fighters

After years of suspensions and sanctions, the Nevada State Athletic Commission announced in July that it would no longer be fining or otherwise penalizing athletes for cannabis-related infractions.

So it was a surprise to many when lightweight fighters Yancy Medeiros and Justin Jaynes were handed four-and-a-half month suspensions this week after testing positive for THC.


White Boy Rick Is Out Of Prison, Entering Michigan Cannabis Industry: What You Need To Know

white boy rick in cannabis facility

At the age of 17, Rick Wershe Jr. was sentenced to prison for cocaine possession after having been used by the FBI as an informant since he was a boy of 14. (As originally seen on Benzinga by Maureen Meehan)

Known as White Boy Rick, Wershe, now 52, was released in July 2020 for good behavior after serving 33 years in federal prison under Michigan's 650-Lifer Law. Exactly a year later, he sued the FBI and Detroit Police for $100 million for having recruited him at such a young and impressionable age. 

And now he’s getting into the cannabis industry. His home state of Michigan is just the place to be. 


Sociodemographic factors have a significant impact on risk of cannabis use disorder in U.S. veterans: research

medical marijuana

Veterans in vulnerable subgroups are at a higher risk of developing cannabis use disorder (CUD) or consuming cannabis for adult (recreational or non-medical) use, according to a new study from researchers at Pennsylvania’s Center of Excellence in Substance Addiction Treatment and Education at the Corporal Michael J. Crescenz VA Medical Center.


The State That Sells the Most Weed May Surprise You

USA map

National retail sales figures for July included a small segment called “miscellaneous store retailers,” in which the U.S. Department of Commerce included the no-longer-so-small cannabis dispensaries. 

With sales at the nation's miscellaneous store retailers increasing by 3.5% in July from June to a record $14 billion — at a time when total retail sales lagged — the Wolf Report looked at one state and concluded that the boom was partly driven by cannabis retail sales.

California at the forefront

The report's author, Wolf Richter, used California's cannabis market, currently the world's largest, as an example, and this is what he found out.


Could 2021 Be the Year of Federal Cannabis Legalization?


The legalization of cannabis in the U.S. has been long in the making. Back in the early 1970s, states such as Oregon, Texas and Colorado began the process of decriminalizing small amounts of cannabis. Fast forward 50 years or thereabouts, and the momentum toward legalization is undeniable.

True, cannabis remains illegal at the federal level, but state after state is legalizing the substance for medical and adult use. California was the first to do so for medical usage in 1996. Since then, several others have jumped on the medical cannabis bandwagon, and a total of 19 states have legalized cannabis for adult use. It seems, then, that it’s just a matter of time before the federal government follows suit.


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