In its first 70 days of being a legal market in New Jersey, recreational marijuana collected close to $80 million in total sales, according to the latest figures.

Folks involved with ramping up the industry expect that number to grow as time goes on, and for consumers to experience more options and more affordable prices on cannabis products.

"As more cannabis businesses come on line, we're going to see revenue numbers increase, overall sales numbers increase, and really more demand be realized in this market," Jeff Brown, executive director of the New Jersey Cannabis Regulatory Commission, told New Jersey 101.5.

From the day of its launch, Apr. 21, through June, the recreational weed market delivered $4.6 million in tax revenue to the state, based on $79,698,831 in total sales.

The numbers suggest there is plenty of room for growth, the NJ-CRC said, and eventually, customers won't have to travel as far to make purchases.

"Initially we have limited retailers, we're adding every month to that number, and prices are higher than they will be in a year or two years from now," he said.

The commission has issued roughly 330 conditional licenses so far, Brown said. Once that's issued, applicants work to get an annual license by finding a location and receiving municipal approval for operation.

At the same time, medical dispensaries are looking to shift operations to include recreational sales as well.

Demand for medicinal cannabis continues to be strong, Brown noted. In the second quarter of 2022, sales ticked up to more than $59 million, which is essentially in line with sales figures for the last quarter of 2021.

Dino Flammia is a reporter for New Jersey 101.5. You can reach him at dino.flammia@townsquaremedia.com

Click here to contact an editor about feedback or a correction for this story.

Here's where NJ legal weed is sold

The number of recreational cannabis dispensaries continues to grow, with close to two dozen state approvals given since the first adult recreational sales in the state back in April. Here is where the open sites are located.

Every NJ pizza joint Barstool's Dave Portnoy has reviewed

Dave Portnoy, commonly known as El Presidente, is the founder of Barstool Sports. Somewhere along the way, he decided to start reviewing local pizzerias, and the concept took off. Here is every New Jersey pizzeria Dave has stopped in, along with the score he gave them.

More From New Jersey 101.5 FM