BALTIMORE, MD – Sales of cannabis since the legalization of recreational marijuana for adult use in Maryland are meeting expectations, the Baltimore Banner reports.
Under the new state law that took effect on July 1, adults 21 or older may possess up to 1.5 ounces of cannabis flower, 12 grams of concentrated cannabis, or a total amount of cannabis products that does not exceed 750 mg THC. This amount is known as the “personal use amount.” Maryland voters approved a ballot referendum in the 2022 General Election to allow use of cannabis by adults at least 21.
Officials said at least $50 million in adult-use cannabis has been sold in each month since July along with over $30 million sold for medical purposes.
Will Tilburg, acting director of the Maryland Cannabis Administration, said the current pace would result in $1.1 billion worth of medical and recreational cannabis combined in the first 12 months of legalization, slightly over double the $500 million in medical cannabis that was sold in 2022. He said this total would put Maryland’s market and sales in line with those of other comparable states.
Darrell Carrington, a lobbyist and executive director of the Maryland Cannabis Industry Association, was quoted as saying, “I’m very encouraged by what I’m seeing.” Carrington said the sales figures indicate the state has a thriving cannabis industry as it prepares to award a second round of cannabis business licenses through a lottery system.
The Maryland Cannabis Administration also released other findings from the first six months of the new law, noting that the most popular type of cannabis being sold is flower, followed by concentrated liquids for vaping. The report found two thirds of the transactions at dispensaries each month involving adult-use customers while the rest are medical patients and caregivers.
The state has imposed a 9% sales tax on cannabis that resulted in $12.1 million in additional revenue for the state government during the first three months of sales.