Massachusetts adult-use marijuana gross sales have formally exceeded $4 billion because the state’s market launched in late 2018, regulators introduced on Friday.
As of January 12, the state noticed $4,000,732,608 in gross hashish gross sales, based on knowledge from the Hashish Management Fee (CCC). This comes lower than a 12 months after Massachusetts hit the $3 billion mark, demonstrating continued development within the business.
The state presently has 265 retailers and 14 supply companies working, and regulators monitor and publish knowledge on gross sales by the fee’s Open Information Platform. In 2022 alone, the state bought $1,483,898,510 value of marijuana.
That portal additionally exhibits individually that medical hashish gross sales are positioned to achieve $1 billion throughout the November 2018-January 2023 timeline, with the entire buy worth presently at $975.4 million. Medical hashish has been out there in Massachusetts for longer than leisure, however regulators’ public knowledge tracks each packages on the adult-use timeline.
“Customers’ demand for examined, high quality hashish merchandise stays sturdy since Massachusetts grew to become the primary East Coast state to open adult-use shops in 2018 and supply service in 2021,” CCC Government Director Shawn Collins said in a press launch. “As new jurisdictions come on-line, I’m assured that licensees within the Commonwealth will keep the aggressive edge by demonstrating to friends what it takes to function a protected, efficient, and equitable hashish business.”
Regulators additionally emphasised their ongoing dedication to selling fairness within the business, stating that there are presently “18 Financial Empowerment Applicant (EEA) licensees, 29 Social Fairness Program (SEP) Participant licensees, and 50 Deprived Enterprise Enterprises—or state-certified minority-, woman-, or veteran-owned firms – of various enterprise varieties.”
New knowledge: Massachusetts Marijuana Retailers and supply companies have surpassed $4 billion in product sales since shops opened in November 2018! Discover this data and extra by way of the Fee’s Open Information Platform: https://t.co/Y9KqkVufQT pic.twitter.com/Gar4OcUEV0
— Massachusetts Hashish Management Fee (@MA_Cannabis) January 27, 2023
“In the meantime, the Fee is getting ready this 12 months to launch the fourth cohort of the SEP, a free statewide technical help and coaching program aimed toward benefitting those that have been disproportionately harmed by marijuana prohibition and enforcement and search participation within the authorized business,” it says. “Thus far, almost 900 Individuals have benefited from this system.”
Massachusetts knowledge additionally confirmed for the primary time final 12 months that the state is producing extra tax income from marijuana than alcohol.
In the meantime, Michigan marijuana gross sales reached a file excessive in December, current state knowledge exhibits. Whereas medical hashish purchases have step by step declined, the adult-use market has greater than made up for that drop, with whole gross sales hitting $221.7 million final month.
Arizona’s marijuana market has seen comparable developments, with the state just lately asserting that hashish gross sales reached a file excessive in October. Medical marijuana purchases are additionally declining within the state, however the leisure market is on an upward trajectory.
Illinois marijuana gross sales hit a file excessive of greater than $1.5 billion in 2022—and this previous December marked the strongest gross sales month thus far—officers introduced earlier this month.
Again in Massachusetts, a lawmaker just lately filed a invoice to broadly decriminalize drug possession for the 2023 session.