Maryland's Green Rush With $55M In Weed Sales, Hemp Cultivators Sue Alaska And More Cannabis Regs

Maryland's Cannabis Market Thrives With $90M In Sales In October

Marylanders seem to enjoy recreational marijuana considering the latest sales data posted by the Maryland Cannabis Administration (MCA).

During October, the state's licensed retailers sold $90 million worth of medical and recreational cannabis products, reported Marijuana Moment. Out of that sum, medical marijuana sales accounted for $35 million, while recreational sales amounted to $55 million, reaching a new record in the prior month.

This July marked the beginning of recreational marijuana sales in the Old Line State, and residents were on board in a big way, resulting in little over $51 million in recreational sales in the first month.

Cannabis businesses seized the new opportunity. With earnings season heating up, companies that operate in the state are reporting a noteworthy increase in quarterly results, attributing it to the launch of adult-use cannabis in Maryland. This week, Ascend Wellness Holdings Inc. AAWH reported a 13% sequential increase in retail revenue, all thanks to marijuana sales.

Missouri Puts Millions Of Cannabis Dollars To Good Use

Meanwhile, in Missouri, yet another state where recreational sales have consistently outpaced medical sales since its launch in February, state officials are seeking to put cannabis money to good use.

The Missouri Department of Health and Senior Services (DHSS) has recently announced that the state's medical cannabis program will transfer $13 million to the Missouri Veterans Commission. The funding would go to healthcare and various services for military veterans and their families.

Veteran services will receive an additional $4 million from the state’s recreational marijuana program, bringing their total funds received to nearly $17 million, reported Marijuana Moment.

Lawsuit Aims To Protect Access To Cannabis-Like Products In Alaska

The Alaska Department of Natural Resources is facing a lawsuit from a collective of hemp cultivators and producers.

The Alaska Industrial Hemp Association, alongside four other businesses, argues in the lawsuit filed Thursday in U.S. District Court in Anchorage that the recent restrictions imposed on hemp products with intoxicating effects violate the constitution, reported Alaska Beacon.

Under the recently approved regulations, cannabis-like products derived from hemp will have to be regulated by the state’s marijuana control board, which would result in removal from vape shops and other unregulated stores statewide.

Christopher Hoke, an attorney for the plaintiffs, requested a temporary restraining order to put a pause on rules, under which sales of hemp-derived drinks, gummies, cookies and more will become illegal, taking effect.

The lawsuit names DNR, its commissioner, the state director of agriculture and Lt. Gov. Nancy Dahlstrom.

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