Business
Maryland adult-use marijuana sales eclipse $10 million over July 4 weekend
Maryland cannabis retailers reported more than $10 million in sales over the July Fourth weekend, the first in the newly expanded East Coast adult-use marijuana market.
The state’s network of roughly 100 retailers reported $10,429,736 in sales Friday through Sunday, roughly an 162% increase compared to nearly $4 million in sales over the same period a year ago, according to statistics from the Maryland Cannabis Administration.
On July 1, the first day of recreational retail, Maryland operators generated $4,518,377 in sales.
Adult-use sales accounted for $3,558,947, or about 85% of total sales.
The weekend snapshot provides a glimpse into what industry experts predict will be among the strongest recreational cannabis sales market in the nation.
The 2023 MJBiz Factbook projects that adult-use sales in Maryland could reach $275 million this year and $2.1 billion by 2027.
Similar to other recent recreational launches, such as Missouri, Maryland’s limited-license market opened with nearly every existing medical marijuana retailer, cultivator and processor converting their licenses to serve adult-use customers.
Source: https://mjbizdaily.com/maryland-adult-use-marijuana-sales-eclipse-10-million-over-july-4-weekend/