Maryland marijuana sales eclipse $10M during first weekend of legal recreational use
BETHESDA, Md. (FOX 5 DC) - Marylanders spent over $10 million on marijuana this past weekend, nearly tripling sales from the same dates last year when it was only legal for medicinal use.
That's according to the Maryland Cannabis Administration, which released its first-weekend report after totaling the numbers from Friday, June 30, to Sunday, July 2. The report reveals that in 2022, retail medical purchases reached $3,985,527 during that same time frame.
On Saturday alone — as Maryland's weed laws went up in flames — residents (medical card-carrying and those with government-issued IDs) coughed up a total of $4,518,377. Over 75% of those sales, the data shows, were for non-medicinal purposes.
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Several local dispensaries FOX 5 spoke to last week said they anticipated the high demand and prepared for it.
The vice president of gLeaf Dispensary mentioned they added additional supply in their vaults and hired more workers to their staff at their two Maryland stores in Rockville and Frederick.
Rebecca Raphael, the chief revenue officer with Curio Wellness in Timonium, said her team started getting ready for July 1 back in March.
Maryland marijuana legalization: Leaders, businesses prepare for high demand on July 1
Recreational marijuana will become legal in Maryland starting this Saturday, July 1, and dispensaries are gearing up for what they expect will be massive demand.
Under state law, adults are now able to grow up to two plants for their personal use and be in possession of up to 1.5 ounces of cannabis. All purchases are being taxed at 9% and the Tax Foundation estimates that in 2023, Maryland could generate a whopping $135 million in additional tax revenue.
Check out Maryland's Cannabis Legalization First Weekend Report below: