With a whopping $1.6 billion sales worth of Cannabis in 2021, Arizona places in second place behind California in the largest U.S. Cannabis market. In cannabis tax revenue alone, Arizona made $221.3 million in accordance with the state Department of Revenue’s data.
In the first nine months of 2022, Arizona earned $196.4 million in cannabis tax revenue. That means that in just a month, Arizona is bringing in about $22 million in cannabis excise taxes!
The state of Arizona voted to legalize adult-use cannabis in November 2020, and soon after, launched its legal market in January 2021. Arizona was the quickest state in that year to move from voter approval to recreational marketplace.
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