Photo courtesy of Curio Wellness.
Maryland retailers sold more than $10 million of cannabis during the first weekend of recreational cannabis sales. Recreational sales began July 1, 2023, and combined medical and recreational purchases totaled $4,518,377 on opening day, with about 75% of sales coming from recreational purchases.
By comparison, Maryland’s legal cannabis sales for the same weekend in 2022 totaled $3,985,527 under the state’s medical-only program.
There were 95 medical cannabis dispensaries approved to sell to adult-use customers and a combined 42 cannabis producers and manufacturers at launch. Officials plan to add new licenses to the state market this year with an emphasis on minority and women applicants.
According to the Maryland Cannabis Administration, the first week of cannabis sales brought in a combined total of more than $20.9 million from recreational and medical sales.
Recreational sales opened only eight months after state voters approved a ballot measure last fall legalizing adult-use cannabis sales. All recreational cannabis products are subject to a 9% tax, the same amount as alcohol products. Maryland officials project the first year of cannabis sales could bring in as much as $600 million in sales, which would amount to about $54 million in taxes.
— Patrick Wagner