Montana Cannabis Market
Big Congratulations to Montana!
What happens next?
Start your business plan and financial model while the details of the adult-use program are being developed.
Montana voters approved Initiatives 118 and 190 to legalize, regulate, and tax adult-use cannabis for adults 21+. The next step is for the Department of Revenue to license and regulate the cultivation, transportation, and sale of marijuana and marijuana-infused products.
The details of I-190 reference two dates for the Department of Revenue to make applications available and begin accepting applications on or before: October 1, 2021 and January 1, 2022. We expect more clarification and will monitor updates from the state, but it appears that the first date is for current medical marijuana licenses holders and the later date is for new applicants. No details are currently available about numbers or limits of licenses. Montana residency is required for all license types except for dispensaries.
Yearly total sales on non-medical marijuana are expected to hit almost $260 million by 2026. Taxes and fees are expected to generate $48 million annually by 2025, with a total of $236 million in revenues generated for the State of Montana between 2022 and 2026.
Projected revenue source: New Approach Montana