Missouri Cannabis Sales Might Reach $300 Million in the First Few Years.

by Hunter Dublin | October 5, 2022

According to Beau Whitney of Whitney Economics, Missouri's adult-use cannabis industry could make between $250 million and $300 million in sales during the first few years. Whitney Economics also predicts that the state's industry could grow to between $800 million and $900 million by 2025 as people transition from the unregulated market to the regulated market.

The state will earn nearly $81 million in taxes over the first few years if the sales meet the initial expectations. Missouri's illegal cannabis market is currently worth around $2 billion.

Cannabis for adult use will likely be legalized in Missouri by voters in November, according to internal polls by advocacy organizations. In a separate survey conducted by SurveyUSA in May, it was shown that 62% of Missourians support the changes, including 76% of Democrats (14%), 49% of Republicans (38%), and 66% of independent voters (20%).

A coalition led by Democratic state Rep. Ashley Bland Manlove has opposed the effort, claiming that "everyone from legislators to Bob on the street didn't grasp the nuances" of the exploitative constitutional amendment.

Members of the cannabis industry are also supporters of the Canna Reform Coalition. The organization opposes the proposed constitutional amendment because it does not include social equality clauses and includes civil penalties, such as a $100 fine for marijuana use in public.