Maryland beats New Jersey and New Mexico with booming first month of cannabis sales

Maryland’s adult-use cannabis sales brought in $84 million in the first month of legal recreational use. This record topped New Jersey, which brought in about $24 million, and New Mexico at $22 million in their first month of recreational cannabis sales.

According to the Maryland Cannabis Administration, the 9% cannabis sales and use tax garnered $4.61 million in July. The state’s tax on alcoholic beverage sales is the same rate as the cannabis sales tax.

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Starting July 1, 95 licensed cannabis dispensaries throughout Maryland could sell marijuana to adults over the age of 21 who showed a government-issued photo ID.

Flower, including bud and pre-rolled joints, led the cannabis sales as the most popular items in July and were followed by concentrates, including vape products.

Last November, Maryland voters approved a legalized recreational cannabis referendum. Then in May, Gov. Wes Moore (D-MD) signed the Cannabis Reform Act into law, which also allows adults to cultivate two plants in their homes.

“Since adult-use cannabis sales commenced in Maryland on July 1, our four Zen Leaf locations in Elkridge, Pasadena, Towson, and Germantown have each experienced a significant uptick in foot traffic and a two to three times lift in sales, which is in line with our expectations and similar to what we’ve seen in other states that transitioned from medical to adult-use sales,” Darren Weiss, president of the multistate cannabis operator Verano, told the Washington Examiner.

The cannabis executive said the demand had them move their Zen Leaf Towson dispensary to “an enhanced location in a standalone building on Joppa road, complete with a drive-thru and additional registers.”

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“As we have seen in other states that have launched adult-use sales, we often find that medical cannabis programs continue to flourish for current patients, but also for new consumers who have experienced relief in some form from cannabis and are interested in accessing additional product formats and benefits,” Weiss said.

He added, “We’re proud to provide Marylanders with access to safe, legal, high-quality cannabis and are encouraged by the rate of acceptance we’ve seen thus far in the state.”