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Massachusetts Recreational Cannabis Sales Generate $393.7M In Year One

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Massachusetts Recreational Cannabis Sales Generate $393.7M In Year One

Adult-use marijuana retailers in Massachusetts have generated $393.7 million in sales in the first year since legalization, the state's Cannabis Control Commission said this week. 

The Bay State was the first in the U.S. to criminalize recreational cannabis a century ago. In 2016, Massachusetts voters elected to legalize it.

Medical marijuana decriminalization occurred in 2012, making the state the 18th in the U.S. to do so.

Legal retail cannabis sales from licensed dealers in Massachusetts commenced on Nov. 20, 2018, and since then, 33 retailers have opened statewide.

Fifty-four more retailers are still in the process of waiting for the Commission’s approval for licensure. The Cannabis Commission Control said it has licensed 227 marijuana establishments so far.

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“Marijuana retailers and consumers should be commended for participating in an extremely smooth roll out of the legal adult-use cannabis industry in Massachusetts for the first year,” Commission Chairman Steven Hoffman said in a statement.

“Hundreds of millions of dollars in sales are one measure of success, but I am even prouder of the way in which marijuana establishments have worked with the commission to gain and preserve compliance with our regulations and patrons continue to inform themselves about the law and their responsibilities when they visit Massachusetts stores.”

During the first year of recreational cannabis sales in Massachusetts, the commission ran a few health and safety initiatives, such as public awareness campaign “More About Marijuana.”

Posted-In: Cannabis News Markets Best of Benzinga

 

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