Oregon becomes third state to allow recreational marijuana sales

On Thursday, Oregon became the third U.S. state to allow recreational marijuana sales, joining Washington state and Colorado.

Under the new law, Oregon residents over the age of 21 can buy up to a quarter-ounce (seven grams) of dried pot at 200-plus existing medical marijuana dispensaries, according to Reuters.

Oregon will begin its recreational marijuana sales business with far more dispensaries selling than in Colorado or Washington, as pot shops have been up and running for over a year.

In Portland, Shane McKee, co-founder of Shango Premium Cannabis said the first sale came almost immediately after midnight and was quickly followed by many others.

“I think it's not only historical for folks in Oregon, but nationwide — anytime people start selling that as an alternative to alcohol or tobacco,” McKee told the Associated Press.

Following this law, recreational marijuana users will have an incentive to buy early and often, as pot purchases will be tax-free until January under Oregon law. That means customers can potentially save up to 20 percent on pot-related purchases.

Last year, voters Oregon and Alaska approved marijuana use and possession under state-mandated regulations. Alaska’s law took effect in February, and sales could begin as early as next year.

Currently, 23 states allow cannabis for medical purposes, but marijuana use still remains illegal for any purpose under federal law. Legalization measures are expected to be on the ballot in Ohio in November and other states in 2016.