Maryland has recorded over $1.1 billion in combined medical and recreational cannabis sales within a year of legalization, as confirmed by Governor Wes Moore this Wednesday.
The state’s Cannabis Administration reports that retail sales for June alone surpassed $95 million, with recreational cannabis contributing over $67 million of that total.
From its start on July 1, 2023, recreational cannabis sales have amassed more than $700 million, while medical cannabis sales are approaching $400 million.
“The launch of our recreational cannabis market has not only spurred significant economic growth but has also opened new opportunities for employment and wealth creation across the board,” Governor Moore remarked. “By enhancing Maryland’s competitive edge, we ensure the inclusive benefit from the state’s economic advancements. This achievement reflects our administration’s ongoing commitment to these goals.”
Since cannabis was legalized, the Maryland Cannabis Administration and the Office of Social Equity have been key players in shaping a progressive cannabis industry within the state.
This past year also saw the creation of a pioneering state-owned cannabis reference laboratory, a first in the nation, overseen by a state cannabis regulatory body.
In addition, cannabis businesses have contributed more than $40 million in fees to the Community Reinvestment and Repair Fund. This fund aids local programs that assist low-income areas and communities most affected by prior cannabis laws.
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