There was over $90 million in legal marijuana sold in Maryland for the second straight month.
Although April saw a slight decrease in marijuana sales compared to March, they were still substantial at $92,291,643. Of this total, approximately $63 million came from recreational marijuana sales. Year to date, Maryland’s legal marijuana market has generated $365.3 million in sales.
In terms of product breakdown, dried flower remained the most popular category, accounting for $54 million in sales. This was followed by marijuana concentrates at $24 million and infused edibles at $11 million.
The average price per gram of marijuana in Maryland remained stable at $9.69.
Maryland legalized marijuana through a voter initiative in 2022, allowing individuals aged 21 and older to possess specified amounts of marijuana products. The first licensed marijuana store in Maryland opened its doors on July 1, 2023, marking a significant milestone in the state’s cannabis industry.
Under Maryland law, marijuana is subject to a 9% tax, although medical marijuana patients are exempt from this tax. Moreover, localities are prohibited from banning outlets that sell both medical and recreational marijuana, and they cannot impose city-specific taxes on marijuana sales.
The Maryland Cannabis Administration oversees regulations for the marijuana industry, with the Division of Cannabis Regulation and Enforcement responsible for licensing and supervision of marijuana businesses.
Last month the Maryland Cannabis Administration (MCA) awarded 174 licenses to social equity applicants seeking to operate marijuana businesses.
More articles from The Marijuana Herald can be found below.
