Legal marijuana sales began in Maryland on July 1, with millions of dollars worth sold in the first two days.
According to data released by the Maryland Cannabis Administration, there was $10,429,736 in legal marijuana and marijuana products sold between July 1 and July 2. This is over double the $3,985,527 worth of medical marijuana sold during the same period last year.
Under the new law those those 21 and older are allowed to purchase up to 1.5 ounces of marijuana from a licensed marijuana retail outlet. They are also allowed to grow up to four plants for personal use.
As of July 1, around 100 medical marijuana dispensaries became “dual outlets” allowing them to sell both medical and recreational marijuana. Stand-alone recreational marijuana stores are expected to open next year.
According to the Administrations Maryland marijuana sales reached $4.5 million on Saturday, the first day of legal sales. The remaining almost $6 million in sales came on Sunday.
Under the new law the newly-created Maryland Cannabis Administration is tasked with industry regulations, while the Division of Cannabis Regulation and Enforcement in charge of reviewing, approving and issuing licenses for marijuana businesses. Marijuana will be taxed at 9%, with medical marijuana patients exempt.
Localities are not allowed to ban dual outlets that sell medical and recreational marijuana. They also cannot establish their own city-wide marijuana tax.
The full text of the new law can be found by clicking here.
More articles from The Marijuana Herald can be found below.
