NJ dispensaries are selling a ton of legal weed. Here’s how much the state is cashing in. – Asbury Park Press

TRENTON – The New Jersey cannabis market is on its way to becoming a billion-dollar industry.

From July 2022 through June 2023, New Jersey dispensaries sold more than $734 million in cannabis products, according to statistics from the New Jersey Cannabis Regulatory Commission. The vast majority of sales came from recreational marijuana customers, who spent over $555 million.

NJ legal weed:Find your nearest dispensary for recreational, medical marijuana

The sales growth comes as the number of dispensaries in New Jersey has continued to grow exponentially. Twelve dispensaries opened for recreational sales during the first and second quarters of 2023, during which sales grew about 10% per quarter.