In the second month of legal recreational marijuana sales, Maryland’s marijuana industry saw over $90 million in sales.
Licensed marijuana retail outlets sold $91.7 million worth of marijuana in August, a $4.3 million increase over the $87.4 million sold in July. This is more than double the marijuana sales total for June, the last month in which marijuana was legal exclusively for those with a qualifying condition.
A little over $55 million of total marijuana sales was “buds” (dried flower), with marijuana concentrates coming second at $24.6 million. Sales for infused edibles was $6.1 million, $5.1 million for infused non-edibles, $512k for shake and $9.5k for plants.
Under Maryland’s marijuana law, passed by voters in November, 2022, those 21 and older are allowed to possess up to 1.5 ounces of marijuana, 12 grams of marijuana concentrates and marijuana edibles infused with up to 750 mg of THC. The law took effect on July 1.
Regulations for the marijuana industry is overseen by the Maryland Cannabis Administration, with the Division of Cannabis Regulation and Enforcement tasked with reviewing, approving and issuing licenses for marijuana businesses.
Under the new law marijuana is taxed at 9%, with medical marijuana patients exempt. Localities are not allowed to ban dual outlets that sell medical and recreational marijuana, nor can they establish a city specific tax.
As of July 1 there was 100 recreational marijuana stores open throughout the state.
More articles from The Marijuana Herald:
