Massachusetts Marijuana Sales Reach $5 Billion Milestone as State Records Consecutive Monthly Purchases

Massachusetts regulators reported on Wednesday that retailers had sold more than five billion dollars worth of adult-use marijuana in the five years since the launch of Massachusetts’ recreational market.

According to the Cannabis Control Commission, after three consecutive months with record-breaking sales of cannabis from June to August the purchases in the state now total $5.02 billion. The Cannabis Control Commission (CCC) reports that sales reached $139.3 in August, and the total year-to date is $1.05 billion.

Since 2018, dispensaries, in addition to increasing recreational sales, have sold medical cannabis products worth more than $1.13 Billion dollars to patients and caregivers.

Marijuana establishments in Massachusetts have reached another milestone, surpassing $5 billion gross sales in August. This follows three consecutive record-breaking sales months, in June, July and August. Read more: https://t.co/RmwNGgdXM6

Massachusetts Cannabis Control Commission 6 September 2023 HTML0

Massachusetts continues to set records in sales, even as new states come online. CCC Executive Director Shawn Collins stated that our neighboring states Maine and Rhode Island also experienced record sales during the summer. The demand for quality, tested cannabis products is still strong in the area, and shoppers from other states are not impacting Massachusetts’s success.

In January , the state had only just passed the $4 billion mark in adult-use sales. It is “the fastest it has ever taken for Massachusetts businesses” to add another $1 billion.

CCC reported that since the opening of the two adult-use stores on the East Coast in November 2018, the pace has continued to accelerate, with each successive tally exceeding the previous.

Data from the state of Massachusetts showed that for the first year, the state generated more tax revenue through marijuana compared to alcohol.

It is even more remarkable that the adult-use market has expanded in states nearby, such as Connecticut, Maryland, New York, and Rhode Island. This would presumably reduce purchases by out-of-state tourists.

Maryland officials announced recently that last month, the state set another marijuana sales record. Nearly $92 million in cannabis products were sold during Maryland’s second legal month for adult-use sales.

Michigan marijuana sales hit a new record in July with almost $277 million worth cannabis being sold.

In July , four Northeastern states – Connecticut (Maine, Massachusetts, Rhode Island) and each also hit new records in cannabis sales.

Illinois retailers sold 140 million dollars worth of recreational marijuana products during July, the highest sales total of the year. This is the second highest monthly amount for Illinois since the adult-use market was launched in 2020.

Since the adult-use marijuana market was opened in Missouri in February, Missouri retailers have sold about $4 million of marijuana each day in average. The state also saw a record $121.2 in cannabis sales in June.

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The Massachusetts Attorney General’s Office has determined that two ballot initiatives for legalizing psychedelics in 2024 have met the state constitution requirements. It is now releasing the final summaries and allowing activists begin collecting signatures so they can qualify to be put before voters next year.

A Republican Massachusetts legislator submitted three psychedelics-reform bills in April. These included proposals to legalize substances such as psilocybin, and reschedule MDMA while waiting for federal approval, along with a price limit on therapeutic access.