Maryland weed sales could reach $1 billion in under two years: study

How much marijuana do Marylanders consume?

Marijuana will be legal in Maryland come July 1st and a new study is showing just how much marijuana Marylanders consume. Michael Sofis, the director of research at Cannabis Public Policy Consulting which conducted this story.

WASHINGTON - Cannabis Public Policy Consulting estimates that cannabis sales in Maryland could reach $1 billion within twenty months of legalization, just under two years.

Recreational cannabis use in Maryland is expected to become legal on July 1 after a referendum to legalize recreational marijuana passed in November.

Maryland votes to legalize recreational marijuana

Maryland will now follow in the footsteps of D.C. and Virginia as lawmakers begin to look into taxing and regulating marijuana.

A study by Cannabis Public Policy Consulting says that 43% of Marylanders have used cannabis within the past year, and have estimated demand for cannabis to total 1.8 million pounds. The study found that consumers are willing to travel up to 11 to 20 minutes to purchase cannabis, and are willing to pay a median price of $14 per gram, a higher price than other legal cannabis states.

The study predicts that cannabis sales in Maryland will reach over $240 million per month, totaling over a billion sales within two years.