Since Massachusetts first opened its adult-use hashish market, licensed retailers have bought greater than $7 billion in authorized medical and leisure marijuana, in response to numbers from the state’s Hashish Management Fee (CCC). The value per gram of authorized marijuana, in the meantime, continues to fall to report lows.
The gross sales milestone—roughly $7.05 billion—consists of $5.81 billion in leisure purchases since adult-use gross sales started in late 2018 in addition to $1.24 billion value of medical marijuana receipts over the identical time interval.
CCC’s gross sales information for the medical market extends again solely to December 2018, when the fee assumed oversight of the system.
In February of this yr, in the meantime—the latest full month for which information is on the market—adult-use retailers tallied $127 million in gross sales, marking a year-over-year month-to-month improve of about $6.4 million. Medical marijuana gross sales for this previous February had been $16.2 million—about $2.5 million lower than a yr earlier.
The value of marijuana in Massachusetts, in the meantime, continues to fall—from a excessive of practically $15 per gram of flower when shops first open to virtually $5 per gram this yr.
Massachusetts Hashish Management Fee
In February, the common value to adult-use customers was $5.32 per gram, a report low within the commonwealth, in response to the state data.
When it comes to product varieties, past-week gross sales information from the fee present marijuana flower makes up the plurality of gross sales ($13.1 million), adopted by vape merchandise ($6.0 million), uncooked pre-rolls ($4.8 million), infused edibles ($3.6 million), focus ($1.4 million) and varied others.
Massachusetts Hashish Management Fee
This previous December, the state set a brand new month-to-month gross sales report of $158.7 million value of authorized hashish merchandise, in response to CCC figures—bringing the state’s complete recorded gross sales for 2023 to just about $1.8 billion.
In the meantime in Massachusetts, officers are exploring learn how to regulate THC-infused hemp merchandise which are bought in liquor shops and smoke outlets, with lawmakers holding a listening to on the matter final week.
A workforce growth program that receives federal funds additionally lately warned companions that it’s restricted from utilizing these sources to help the state-legal marijuana trade—although it could possibly use the cash to supply providers to the hemp trade, which is federally authorized.
Reforms round psychedelics are additionally within the works within the commonwealth.
With a psychedelics legalization initiative pending earlier than lawmakers forward of a possible vote on the November poll, a legislative committee lately superior a separate invoice that will legalize psilocybin remedy and arrange a framework to license facilitators who would supervise medical, therapeutic and non secular purposes of the drug.
The event comes on the heels of native leaders within the metropolis of Medford adopting a decision to deprioritize arrests round psychedelic crops and fungi and in addition urge county prosecutors to cease pursuing circumstances of possession, cultivation or distribution of the substances.
Medford was the eighth Massachusetts metropolis to undertake such a coverage, together with Salem, Somerville, Cambridge, Easthampton, Northampton, Amherst and Provincetown.
The activist-backed legalization initiative now earlier than state lawmakers, in the meantime, would create a regulatory framework for lawful and supervised entry to psychedelics at licensed services. It will additionally legalize the possession and gifting of psychedelics akin to psilocybin and ayahuasca, however it might not in any other case present for business retail gross sales of the substances.
—
Marijuana Second is monitoring greater than 1,000 hashish, psychedelics and drug coverage payments in state legislatures and Congress this yr. Patreon supporters pledging at the very least $25/month get entry to our interactive maps, charts and listening to calendar so that they don’t miss any developments.
Be taught extra about our marijuana invoice tracker and turn into a supporter on Patreon to get entry.
—
After activists collected an preliminary batch of signatures from voters, the legislature now has the selection of enacting the reform, proposing a substitute or declining to behave fully. If lawmakers determine to not legalize psychedelics by Could 1, activists would then have till July 3 to submit at the very least 12,429 extra legitimate signatures to place the proposal earlier than voters on the November 2024 poll.
Individually, Gov. Maura Healy (D) lately drew consideration to testimony round a veterans-focused invoice that she’s launched to create a psychedelics work group that will research the therapeutic potential of drugs akin to psilocybin.
One other invoice would authorize the Division of Public Well being to conduct a complete research into the potential therapeutic results of artificial psychedelics like MDMA.
Rep. Mike Connolly (D) additionally filed a invoice in 2021 that obtained a Joint Judiciary Committee listening to on learning the implications of legalizing entheogenic substances like psilocybin and ayahuasca.
Photograph courtesy of Mike Latimer.