Retail weed sales in Massachusetts hit the $5 billion mark, according to a press release from the state’s Cannabis Control Commission (CCC). In January, adult-use sales reached $4 billion and a mere eight months later surged to $5 billion.
With more East Coast states launching legal marijuana programs, some in Massachusetts worried that competition in the neighborhood might cut into the state’s sales. But that obviously didn’t happen. The eight-month period between the $4 billion and $5 billion benchmarks was a remarkably short time to generate $1 billion in sales.
Since the first two recreational cannabis shops opened in Massachusetts - the first on the East Coast - in November 2018, "the pace of hitting the next $1 billion aggregate gross sales milestone has continued to quicken, with each subsequent tally occurring faster than the previous one,” the CCC noted in the statement.
A Friend In High Places
“Now is the time to get creative and think big about how we can ensure fairness and competition in the cannabis industry,” the Senator added.
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