In the first month of adult-use marijuana sales in New Jersey, sales reached $24 million. “It’s really only a beginning, and I think it shows that there’s a lot of growth left in this market,” states Director of the New Jersey Cannabis Regulatory Commission Jeff Brown.
Since sales began on April 21, cannabis businesses in the state have sold approximately $5 million worth of recreational marijuana per week. The thirteen establishments available for recreational sales generated $24.2 million in their first month of operation, an average of $5 million per week, with 212,000 transactions. “We do anticipate that this will ramp particularly as new dispensaries are approved,” Commission Executive Director Brown said at the meeting.
It was also revealed on Tuesday by the New Jersey Cannabis Regulating Commission that a total of six new dispensaries would soon be able to sell recreational cannabis products.