Friday, September 19, 2025
Weed Deep Dive
  • Politics
  • Lifestyle
  • Business
  • Medical
  • Shop
No Result
View All Result
Weed Deep Dive
  • Politics
  • Lifestyle
  • Business
  • Medical
  • Shop
No Result
View All Result
Weed Deep Dive
No Result
View All Result

Maryland On Pace for $1.1 Billion in Marijuana Sales in 2024

Keegan MacDonald by Keegan MacDonald
December 15, 2023
in Featured, Politics
136
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
Views: 1,709

Maryland’s burgeoning adult-use cannabis market achieved yet another milestone last month, as licensed dispensaries reported record-breaking sales of nearly $56 million, according to the state’s Cannabis Administration (MCA). This figure surpassed October’s total by $861,500, marking a continued upward trend for the state’s recreational cannabis industry.

Conversely, November witnessed a slight dip in medical cannabis sales, declining by almost $1.2 million. Despite this decrease, the combined sales for both adult-use and medical cannabis reached $89.7 million, representing a 2.25% decrease from the peak in August when sales hit $91.7 million, as reported by the MCA.

Since the commencement of adult-use sales on July 1, 2023, Maryland’s licensed dispensaries have reported substantial earnings, with almost $270 million in adult-use receipts and nearly $180 million in medical receipts. The cumulative sales of approximately $450 million over the first five months suggest an annual run rate approaching $1.1 billion for 2024.

Breaking down the product categories, flower sales dominated in November, contributing $48.8 million to the overall sales. Other significant categories included concentrates ($21 million), infused edibles ($5.3 million), infused non-edibles ($2.9 million), and shake/trim ($542,000), as reported by the MCA. Additionally, plant sales accounted for $10,500.

The remarkable sales figures are attributed to the early entry of existing medical operators into the adult-use market in July. Major players such as Ascend Wellness, Cresco Labs, Curaleaf, Green Thumb, The Cannabist Co., TerrAscend, Trulieve, and Verano were among those granted first-mover advantage.

To diversify the adult-use retail landscape, the MCA recently concluded a 30-day application period on December 12, aiming to issue up to 179 licenses exclusively for social equity businesses. These include 75 standard dispensaries, 16 standard growers, 32 standard processors, 24 micro growers, 24 micro processors, and 8 micro dispensaries. This initiative is poised to almost double the number of retail facilities in the state, currently at 91, as the MCA has already granted cannabis dispensary licenses to 101 entities.

It’s important to note that Maryland imposes a 9% sales-and-use tax on cannabis receipts at retail, contributing to the state’s revenue streams.

Read the whole article here.

Previous Post

Marijuana as Biden’s Last Resort

Next Post

Psilocybin Therapy coming to 10,000 New York Military Veterans

Keegan MacDonald

Keegan MacDonald

Related Posts

Cannabis Tax Cuts coming to California

Cannabis Tax Cuts coming to California

by Graham Cooper
September 16, 2025
0

There's no bigger issue within the marijuana market than too high taxes. That's especially the case in California, where rates...

House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

by Keegan MacDonald
September 16, 2025
0

The U.S. House of Representatives has approved a measure that would broaden opportunities for military recruits who test positive for...

Weed Beverages sales were over a Billion last year

Weed Beverages sales were over a Billion last year

by Graham Cooper
September 16, 2025
0

Some huge numbers are coming from the youngest marijuana market in the country: beverages. It seems the canned beverage has...

California and New York Cannabis Brands Fight For the First MJBowl National Champion Award

California and New York Cannabis Brands Fight For the First MJBowl National Champion Award

by Keegan MacDonald
September 11, 2025
0

The cannabis industry will crown its first national champions this December at the debut of MJBowl, a bi-coastal competition uniting...

Next Post
Psilocybin Therapy coming to 10,000 New York Military Veterans

Psilocybin Therapy coming to 10,000 New York Military Veterans

Latest

Cannabis Tax Cuts coming to California

Cannabis Tax Cuts coming to California

September 16, 2025
House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

September 16, 2025
Weed Beverages sales were over a Billion last year

Weed Beverages sales were over a Billion last year

September 16, 2025
ADVERTISEMENT
Sign up for the WDD Newsletter

Categories

  • Business
  • Featured
  • Lifestyle
  • Medical
  • Politics
  • Uncategorized

Recent Posts

  • Cannabis Tax Cuts coming to California
  • House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

Browse by Tag

cannabis covid marijuana ban ncaa

AFFILIATES

© Weed Deep DIve. All rights reserved.

No Result
View All Result
  • Politics
  • Business
  • Lifestyle
  • Medical
  • Shop

© Weed Deep DIve. All rights reserved.