RI’s Surprising Number: Record Cannabis Buying
Monday, June 19, 2023
GoLocal regularly features a piece of data that we found surprising.
A number that provides an insight into a trend or gives an insight into Rhode Island’s economy, behavior, competitiveness, or is just quirky.
Today’s number is the amount Rhode Islanders spent legally buying cannabis.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTAccording to the Marijuana Herald, which looked data released by the Rhode Island Department of Business Regulations, there was $6,037,183.97 in recreational marijuana sold in May, as well as $2,979,828.99 worth of medical marijuana. This brings the total amount of legal marijuana and marijuana products sold in May to $8,892,593.99.
The $8.89 million sold in May is a monthly record for the state and represents a modest increase from the $8.4 million sold in April, and the $8.7 million sold in March.
The total sold this year thru May is $47 million.
These numbers are expected to go up.
Advertising Legalized
This session, the RI General Assembly passed legislation sponsored by Sen. Jonathon Acosta and Rep. Scott A. Slater which would allow the state’s recreational cannabis dispensaries to advertise their products.
Currently, Rhode Island’s cannabis businesses are unable to advertise by law, although dispensaries in other states, such as Massachusetts, are allowed to advertise within Rhode Island.
“The prohibition on advertising for our state’s cannabis products has put this young and growing industry at a significant disadvantage when competing against our neighboring states’ cannabis operations. Seeing advertisements for Massachusetts cannabis products right in the middle of Providence is an inequality that this bill will rectify, allowing our own state’s businesses to grow and flourish,” said Senator Acosta (D-Dist. 16, Central Falls, Pawtucket).
“It’s unfortunate that it took this long to allow our cannabis businesses to properly compete with dispensaries in other states, but this bill will rectify this oversight to finally allow our state’s businesses to advertise their products. This will keep more money in Rhode Island where it belongs,” said Representative Slater (D-Dist. 10, Providence).
