Massachusetts’ legal marijuana market broke the record for the most recreational marijuana sales in a single month with $142 million.
According to data released by the research firm Headset, there was a total of $142 million in recreational marijuana sales in July, beating the previous monthly record of $140 million set in December. Medical marijuana sales added another approximately $17 million, bringing the monthly total to nearly $160 million.
Sales figures for July bring the year-to-date total to around $860 million, with all-time sales reaching $6.5 billion.
According to the CCC, there are now almost 700 active marijuana strains available for sale in Massachusetts, more than any other state that tracks this data.
Marijuana was legalized in Massachusetts in 2016, allowing individuals aged 21 and over to possess up to an ounce of marijuana and grow up to six plants for personal use. The first licensed marijuana store opened in 2018. Recreational marijuana purchases are subject to a 10.75% excise tax, in addition to the standard statewide sales tax of 6.25%, whereas medical marijuana sales are exempt from both taxes. Tax revenue from marijuana sales is divided between the Marijuana Regulation Fund, local municipalities, and the state’s General Fund.
According to polling results in April, 79% of voters in Massachusetts believe the state’s marijuana legalization law has had positive results.
