Cannabis sales surpass $1.1 billion in Maryland’s first year of legalization

ANNAPOLIS, MD—The first year of recreational cannabis legalization in Maryland has been a historic one, with sales of medical and recreational cannabis surpassing $1.1 billion.

According to the Maryland Cannabis Administration, June sales surpassed $95 million, with the adult-use market accounting for more than $67 million of those sales. Since recreational cannabis was legalized for adults on July 1, 2023, sales totaled more than $700 million and medical sales totaled 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,” said Governor Wes Moore. “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.”

“I am proud of the efforts of the Cannabis Administration staff who worked in collaboration with our governmental and industry partners to implement a safe and equitable market in Maryland, while simultaneously building a new regulatory agency,” said Maryland Cannabis Administration Director Will Tilburg. “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.”

The state expects the number of licensed cannabis businesses to more than double in the next year, and the sales of cannabis to continue to grow. The legalization of cannabis is expected to create thousands of jobs and generate significant tax revenue for the state. The Maryland Cannabis Administration says that 74% of the people who responded to a survey on the potential uses of the Community Reinvestment and Repair Fund said they strongly supported reinvesting cannabis tax revenue into communities disproportionately harmed by the War on Drugs.

This article was written with the assistance of AI and reviewed by a human editor.

Photo via the Maryland Governor’s Office. Pictured: Governor Wes Moore and cannabis entrepreneur Hope Wiseman.