VERMONT – The cannabis market in the state of Vermont is gearing up to celebrate its first year in operation, with retail sales expected to exceed $100 million for the current fiscal year, yielding over $20 million in additional state revenue.
According to a report by Vermont Public, the Vermont Cannabis Control Board granted licenses to a select number of retail stores in early October 2022 with an ever-growing number of additional licenses being issued.
Chairman of the Cannabis Control Board, James Pepper, expressed enthusiasm about the overwhelming response from Vermont consumers to the state-regulated marketplace.
“Consumers want the regulated product, they want the education, they want know what they’re consuming, they want to read the labels and kind of have some consistency and some variety, so I’m excited,” said Pepper.
Pepper also highlighted that the newfound revenue will predominantly benefit drug education programs across the state.