Maryland’s legal marijuana market has achieved a significant milestone, surpassing half a billion dollars in sales within the first half of the year.
According to the Maryland Cannabis Administration, $94 million worth of legal marijuana and marijuana products were sold in June, bringing the year-to-date total to $556.2 million.
In June, recreational marijuana consumers contributed approximately $65 million to the total sales, while medical marijuana patients accounted for the remaining $29 million. This follows May’s record-breaking sales, where $96.8 million was generated.
Dried flower continues to be the most popular product category, with sales reaching $57 million in June. Marijuana concentrates followed with $25 million in sales, and infused edibles accounted for $12 million.
Maryland legalized marijuana in 2022 via a voter-approved initiative. The law allows those aged 21 and older to possess specified amounts of marijuana products. The state saw its first licensed marijuana store open on July 1, 2023.
Marijuana in Maryland is subject to a 9% tax, although medical marijuana patients are exempt. Additionally, localities cannot prohibit outlets that sell both medical and recreational marijuana or impose additional city-specific taxes on sales.
The Maryland Cannabis Administration oversees the regulatory framework for the industry, with the Division of Cannabis Regulation and Enforcement responsible for the licensing and supervision of marijuana businesses.
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