Michigan marijuana sales hit another record high in June, reaching nearly $261 million.
Adult-use cannabis purchases accounted for the majority of the total, at $254,153,133. Medical marijuana sales were at $6,643,877. This beats the prior record set in March by more than $10 million.
Most of the cannabis purchases came from flower, followed by vape cartridges and infused edibles, the Michigan Cannabis Regulatory Agency (CRA) data, first reported by New Cannabis Ventures, shows.
The state is seeing these record-setting sales even as the average cost of marijuana has remained at record lows, with the price of an ounce for adult-use cannabis now hovering around $90. In December 2021, by contrast, the cost of an ounce was about $180. The average ounce for medical marijuana last month was about $100.
While the state’s cannabis market has continued to mature, businesses still face challenges under federal prohibition, including a lack of access to traditional financial services that has created a cash-intensive industry that is uniquely targeted by crime.
The attorney general of Michigan said in March that a string of break-ins at marijuana dispensaries in the state underscore the need for Congress to pass cannabis banking reform.
Meanwhile, former Michigan House Speaker Rick Johnson
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