Massachusetts shows the benefits of legalized marijuana
It appears that the risk of becoming the first state east of the Mississippi River to establish a commercial retail program for adult use has paid off for Massachusetts. The first recreational marijuana sales were launched on November 20, 2018, and it is now reported that since then, buyers have spent more than $3 billion. Included in the equation are more than 200 dispensaries and 11 delivery businesses.
The Bay State first joined states like California, Colorado, Nevada, Oregon, and Washington in the $1 billion sales club in October 2020. It took approximately another ten months for recreational marijuana retailers in the state to reach the $2 billion benchmark in August 2021. Since that time, the state has witnessed the opening of more than 50 dispensaries for this market, which was a big help in driving the new $3-billion mark.
Shawn Collins, executive director of the Cannabis Control Commission (CCC), said in a statement that these sales figures are a clear reflection of what many residents hoped to see when they voted positively on the legalization of adult-use cannabis six years ago. He continued, “I’m proud our staff continue to work diligently to ensure applicants move through our licensing process efficiently, marijuana establishments operate within a safe, accessible, and effectively regulated market and our work to ensure equity in the industry and the agency remains front and center.”
This new milestone in Massachusetts’ lucrative recreational marijuana market comes some time after retailers in the state eclipsed a total of $5.98 million on April 20. According to the CCC, this represents a 41.7% increase over last year’s approximately $4.2 million.