There was a record-breaking $96.4 million in legal marijuana sold in December in Maryland.
According to the Maryland Cannabis Administration there was $96,473,978 worth of legal marijuana and marijuana products sold in December, a new monthly record for the state. Medical marijuana sales were $34,967,892 while recreational marijuana sales were $61,506,086.
Total marijuana sales for the year finished just shy of $800 million at $787 million.
A large majority of the marijuana sold was dried flower at over $54 million, followed by marijuana concentrates at $24 million and infused edibles at $6 million.
Maryland voters legalized marijuana via the initiative process in 2022. The law allows those 21 and older 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 first licensed marijuana store opened July 1, 2023.
Under Maryland’s marijuana 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.
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.
Last month state regulators received over 1,700 applications during a 30-day window from those seeking to receive a social equity marijuana business license. Officials must now pick 179 of these 1,708 to receive licenses, split as follows:
- Standard Dispensary: 716 applicants – 75 licenses available
- Micro Dispensary: 264 applicants – 8 licenses available
- Standard Grower: 217 applicants – 16 licenses available
- Micro Grower: 286 applicants – 24 licenses available
- Standard Processor: 115 applicants – 32 licenses available
- Micro Processor: 110 applicants – 24 licenses available
