Maryland’s First Year of Cannabis Legalization Brings $1.1 Billion in Sales

1 July 2024

Since Maryland opened its doors to adult-use cannabis on July 1, 2023, the state has seen marijuana sales exceed $1.1 billion. Adult-use sales accounted for $700 million, while medical cannabis contributed $400 million, according to data from the Maryland Cannabis Administration. The governor recognized this milestone, highlighting its economic benefits and progress in advancing social equity. In June alone, total sales exceeded $95 million, with adult-use transactions comprising over $67 million.

Maryland has made significant strides in supporting underserved communities, directing $40 million in fees to the Community Reinvestment and Repair Fund. This initiative was designed to aid low-income areas and address the impact of past cannabis-related enforcement policies. The state also introduced a social equity-focused licensing program, with over 76% of new marijuana businesses reporting majority-minority ownership. Workforce development programs prioritized opportunities for individuals previously affected by cannabis convictions, and Maryland became the first state to establish a government-run cannabis laboratory to ensure robust regulatory oversight.

The state has also taken steps to promote safe and informed cannabis use through public health campaigns and created a transparent Medical and Adult-Use Data Dashboard to provide insights into the industry. These efforts have led to a doubling of licensed cannabis businesses and solidified Maryland’s position as a trailblazer in the cannabis sector. By integrating economic growth with social justice initiatives, Maryland has set a high standard for states considering similar reforms.