There are very few things that are as exciting as pot legalization and the end of prohibition. One thing that might be better is when we get to see the overwhelmingly positive results from these decisions. It gives every activist a nice sense of, “I told you so.” Well, thanks to Oregon’s recent leap into the cannabis marketplace we’ve got another success case to point to. Oregon is reporting that their pot stores have sold more than $11 million in the first five days.
This would be incredibly impressive numbers no matter what the product was, but one of the most exciting aspects is that these first legal recreational sales have even outpaced the initial earnings from Colorado and Washington. According to the Oregon Retailers of Cannabis Association they brought in sales of $3.5 million by the end of the first day. This is significantly more than Colorado’s impressive $5 million brought in during their first week. This incredible show out of cannabis customers might be related to the long amount of time that Oregon residents had to wait for this to become a reality. Oregon approved possession of marijuana in some quantities over a year ago in July. However, October first was the first time that the state provided a legal way to buy the product. Many of the pre existing medical dispensaries were more than ready for the big day, and a few even opened at midnight.
The existence of these dispensaries may have a big part in why Oregon was able to put up such impressive numbers in their first week. On the first day that recreational marijuana could be sold, there were already over 250 dispensaries that were selling recreationally. That is substantially more than Colorado had during its first week and more than Washington has even now. The plethora of dispensaries already located in Oregon also meant that the state had a large supply of grow houses and product readily available. Hopefully Oregon will continue to bring in profits that are going to be hard for other states to ignore.