Minnesota Cannabis Market Data 2026: Sales, Tax Revenue, Licenses and Prices

By GreenGrowth CPAs Cannabis Team · Updated October 2026 · Minnesota Cannabis Data

Minnesota cannabis sales passed $250 million in the first year of state-licensed retail, about $150 million adult-use and $100 million medical, according to the Minnesota Office of Cannabis Management (OCM) on September 15, 2026. The same release reported $45.6 million in state tax revenue for September 2025 to July 2026 and 369 licensed cannabis businesses.

GreenGrowth CPAs collects the official figures here in one dated table, cites each to its OCM release, and explains what they mean for operators. Where we do our own arithmetic, we say so.

Minnesota Cannabis Market: At a Glance

• Launch: state-licensed adult-use sales began September 16, 2025; Tribal sales on Tribally regulated land began in August 2023.
• Licenses: 369 businesses, 43% social equity owned; 86% of licenses in the four capped types went to social equity.
• Prices: median flower $13.54 per gram adult-use vs. $9.17 per gram medical (12 months to the January 2026 release).
• Next: macrobusiness license January 1, 2027; new capped license numbers possible after July 1, 2027.

Minnesota Cannabis Key Figures, as of October 2026

Periods differ between releases, so compare like with like.

Quoted as worded in OCM press releases. OCM's monthly dashboard may show later figures.

Minnesota Cannabis Sales: What OCM Reports

OCM's headline is "more than $250 million in combined adult-use and medical cannabis products" since state-licensed sales launched, made up of "approximately $150 million in adult-use cannabis products and $100 million in medical cannabis products" (OCM, Sept. 15, 2026). OCM's sales data come from Metrc, the state's seed-to-sale system. Hemp edibles and beverages are not tracked there, so they are not in these totals.

The January 2026 figures use different windows. The $122.5 million is a trailing 12-month total that includes medical sales from before the adult-use launch, while the $31.1 million adult-use and $31.7 million medical figures run only from September (OCM, Jan. 15, 2026). They are not meant to add up.

By our rough arithmetic, adult-use went from about $31 million at the January release to about $150 million by mid-September 2026, so roughly $119 million came in the later months. That fits OCM's report of 95 newly licensed cultivators in June, July and August 2026 alone. Flower led by volume, then vape concentrates, prerolls and edibles.

Minnesota Cannabis Market Timeline

Sources: OCM releases of Sept. 16, 2025 (launch release), Jan. 15, 2026 and Sept. 15, 2026; Laws 2026, ch. 123; Minn. Stat. 295.81; MPR News and KTTC lottery coverage; 91 Fed. Reg. 22714. The Moorhead opening is reported as May 23 or 24, 2025.

On launch day, OCM said all eight Green Goods stores opened, Legacy Cannabis in Duluth made the first sale of Tribally grown product, and 37 licenses had been issued, 23 to retail-planning microbusinesses.

What the Price Gap Means for Margins

The median adult-use flower price of $13.54 per gram was about $4.37, or roughly 48%, above the $9.17 medical median over the 12 months OCM measured (OCM, Jan. 15, 2026). Part of that window predates adult-use, so treat the gap as directional.

Taxes widen the gap at the register. Adult-use carries the 15% cannabis gross receipts tax, 6.875% state sales tax and local sales tax, while medical cannabis for enrolled patients is exempt. If OCM's medians are pre-tax (the release does not say), a $13.54 adult-use gram costs about $16.79 out the door at Bloomington's roughly 24.0% combined rate, per the Department of Revenue's cannabis tax guide.

• Adult-use earns more per gram but stays under IRC 280E, so store expenses do not reduce federal taxable income.
• Medical earns less per gram, but state-licensed medical activity moved to Schedule III on April 28, 2026. No IRS guidance yet explains how mixed operators allocate costs.
• Expect price compression as the 486,720 plants OCM reported reach shelves. Model flat or falling prices in years two and three.

See why 280E punishes dispensary discounts and our IRC 280E cannabis tax guide.

What Tax Revenue Implies About Sales

OCM reported $45.6 million in tax revenue for September 2025 to July 2026, combining cannabis with lower-potency hemp edibles and beverages, based on Department of Revenue figures (OCM, Sept. 15, 2026). OCM does not split it by tax type or product.

Our illustrative arithmetic, not an official figure: if all $45.6 million were the 15% gross receipts tax, it implies about $304 million of taxable receipts in 10 months; if it also includes the 6.875% sales tax, about $208 million. Either way, that exceeds adult-use cannabis alone (about $150 million over 12 months, with medical exempt). The likely conclusion is that hemp edibles and beverages, taxed at 15% but not tracked in Metrc, are a large share of the taxable base, and the federal hemp THC limit from December 11, 2026 puts that revenue at risk. Our Minnesota cannabis dispensary tax guide covers how the tax applies to hemp beverages, and cannabis tax rates by state compares markets.

What License Counts Mean for Competition

OCM counted 369 licensed cannabis businesses on September 15, 2026, up from 118 licenses at the end of 2025. Nearly three-quarters of cultivation-endorsed license holders are microbusinesses (OCM, Sept. 15, 2026).

• Supply is catching up. Tracked plants rose from 72,083 to 486,720 in 12 months, which usually means more price competition.
• Counts are not sales. A microbusiness may run one store, a retailer up to 5 and a macrobusiness up to 8 from 2027.
• Capped types stay scarce until mid-2027, which protects existing retailers and mezzobusinesses for now.

The Marijuana Herald, a secondary source citing OCM data as of September 25, 2026, reported 392 licenses and 223 adult-use retail sites. We have not verified those figures against OCM, so use OCM's own numbers in lender or regulator documents. Our Minnesota cannabis retail license guide explains the caps and lotteries.

What to Watch in 2027

Macrobusiness Licenses on January 1, 2027

Under Laws 2026, ch. 123, the medical cannabis combination license (3 licenses as of September 2026) becomes the cannabis macrobusiness license, with up to 38,000 square feet of indoor canopy and 8 retail locations; no more than 8 may be issued before 2030.

Capped License Round After July 1, 2027

July 1, 2027 is the earliest date OCM can set new numbers for capped cultivator, manufacturer, retailer and mezzobusiness licenses.

Federal Hemp THC Limit on December 11, 2026

The federal 0.4 milligram per container total-THC limit reaches naturally derived hemp THC products on December 11, 2026, after a delay signed in early September 2026. OCM says this does not change how Minnesota law defines lower-potency hemp edibles, but unless Congress acts again, most Minnesota hemp-THC products fall outside federal hemp that day.

How to Use This Data in Your Business Plan

• Cite the release, date and wording, such as "more than $250 million (OCM, September 15, 2026)".
• Treat prices as a ceiling and model lower prices as cultivation reaches shelves.
• Separate cannabis and hemp revenue, with a scenario that cuts hemp-THC sales after December 11, 2026.
• Model taxes at today's rates: 15% plus 6.875% plus local for adult-use, medical exempt, plus a federal 280E line.
• Tie revenue to your budget using our breakdown of the cost to open a dispensary in Minnesota and our guide to evaluating a Minnesota cannabis investment.

GreenGrowth CPAs builds these models through our outsourced CFO services and our Minnesota cannabis accounting team.

Methodology and Sources

We took every market figure on this page from OCM's official press releases published through GovDelivery: the September 16, 2025 launch release, the January 15, 2026 dashboard release, the June 30, 2026 Compliance Connector and the September 15, 2026 first-year release. We did not draw on monthly dashboard updates published after those releases, so check OCM's Cannabis Market Monitor for the latest month. Statutes and tax rules were checked against the Revisor of Statutes and Department of Revenue on October 22, 2026. Calculations labeled as ours are not official estimates.

Frequently Asked Questions

Where to Go From Here