Oregon makes $11 million in first week of recreational marijuana sales

Seems like a decent way to generate tax revenue

(Getty)

Oregon dispensaries just made $11 million after the state’s first week of selling recreational pot.

KGW News reports that the state’s dispensaries generate $3.5 million in the first day, shattering expectations that the state would only generate $9 million in net tax revenue for the entire year of 2017.

Jeff Johnson, Nectar dispensary owner, told the station that his business is already serving nearly 500 people each day.

"Obviously we're seeing a young crowd but we're also seeing people in their 50s and 60s that would never have bought the product if it wasn't legal,” he said.

The state is outpacing Colorado and Washington's legal recreational weed sales who reeled in $5 million and $2 million, respectively.

All marijuana sales are currently tax-free in Oregon, but a 25-percent tax will be added to sales in January to help fund schools, mental health programs, police forces and communities that allow the sale, the outlet reports.