Maryland Gov. Wes Moore (D) announced on Monday that the state’s total medical and adult-use cannabis sales exceeded $1.1 billion during the adult-use market’s first year of operation, Tri-State Alert reports.
The Maryland Cannabis Administration (MCA) said that since the state launched its adult-use cannabis sales on July 1, 2023, adult-use cannabis sales have totaled more than $700 million and medical cannabis sales reached nearly $400 million.
“Our new adult-use cannabis market isn’t only generating extraordinary economic activity – it’s also helping us build new pathways to work, wages, and wealth for all. Making Maryland more competitive means ensuring that everyone can reap the benefits of Maryland’s economic growth. This important milestone proves how our administration continually – and repeatedly – honors our deep commitment to that mission.” — Gov. Moore, in a statement
MCA Director Will Tilburg said he was “proud” of the agency’s efforts in implementing a “safe and equitable market in Maryland, while simultaneously building a new regulatory agency.”
“As exciting as the past year has been, we expect the year ahead to be even more so, as new social equity businesses bring their passion and innovation to the Maryland market,” Tilburg said in the report.
According to recent data from the state Office of the Comptroller, Maryland collected about $14.7 million in cannabis taxes during the first quarter of 2024.
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