Maryland Medical Cannabis Sales Reached $1 Billion Since Rolling Out

Since December 2017 when medical cannabis sales in Maryland got underway, the state has generated over $1 billion in cannabis retail sales, according to Marijuana Business Daily.

Quarterly sales of $60.5 million in 2019 nearly doubled in the same period of 2020, reaching $115 million. In the first three months of 2021, cannabis sales reached $135 million.

According to William Tilburg, executive director of the Maryland Medical Cannabis Commission, the state will hit another billion dollars in about half the time.

Furthermore, Tilburg projects Maryland’s industry will reach $550 million in sales by the end of this year, based on the growing number of patients and businesses.

From the end of 2019 to the beginning of 2021, the number of medical marijuana patients in Maryland climbed to 125,335 from 87,019, according to the data gathered by the Baltimore Business Journal. At the same time, the number of authorized dispensaries increased by 10%.

Meanwhile, efforts to legalize adult-use cannabis in the Old Line State recently failed by not having met the deadline to pass in one legislative chamber. Now, cannabis advocates will have to wait for at least one year to give it another push.

“Sponsors (now) are working on amendments to set the stage for legalization in ’22,” Karen O’Keefe, Marijuana Policy Project’s director of state policies, said at the time.

Encuentra nuestro contenido en Español en El Planteo:

• Cómo Fumar Marihuana: 21 Formas de Consumir Cannabis
• ¿Cómo Comprar Safemoon?
• Las Mejores Criptomonedas para Invertir en 2021

Photo by Thought Catalog on Unsplash