In a remarkable turn of events, Maryland’s cannabis market has continued its upward trajectory, with sales in September reaching a staggering $90.5 million, just shy of the previous month’s record-breaking $91.7 million, as reported by the state’s Cannabis Administration (MCA). Even more impressive is the fact that September’s daily sales averaged over $3 million, despite having one fewer day than August. A significant portion of these sales, amounting to $54.3 million or 60%, stemmed from adult-use transactions, marking a notable increase from August’s 57.8%.

The momentum generated by Maryland’s cannabis market can be traced back to July 1st when recreational cannabis became legally available in the state. Since then, Maryland residents have collectively spent over $511 million on cannabis products. What’s truly exciting is that the first half of the year primarily focused on medical-only sales, suggesting that the state’s robust monthly average of $90 million in the first three months following adult-use legalization hints at a potentially colossal $1.1-billion market projection for 2024. This positioning aligns Maryland with major national cannabis markets, setting the stage for remarkable growth in the coming years.

But the story doesn’t end here; Maryland’s cannabis industry is on the cusp of even more significant expansion, according to insights from cannabis consulting firm Global Go. Currently, existing medical licensees are limited to operating four dispensaries each, catering to the adult-use market. However, a new licensing round is set to open on November 13, exclusively targeting social equity applicants. This development is expected to more than double the number of cannabis businesses operating in the state, with projections indicating over 175 licenses to be distributed among growers, processors, and dispensaries. The application phase for these coveted licenses will conclude on December 12, culminating in a region-based lottery scheduled for January 1, 2024.

For Cannapreneurs and cannabis enthusiasts in the Maryland area eager to dive into this burgeoning market, mark your calendars for October 10th. On this date, GCT’s partner, Global Cannabis Connect, will present the Maryland Edition, an exclusive happy hour networking event in Baltimore tailored specifically for cannabis entrepreneurs, enthusiasts, and professionals. This event promises valuable insights, connections, and opportunities in Maryland’s thriving cannabis landscape.

Source: Global Cannabis Times


Major Corporations Investing in Cannabis

As cannabis legalization continues to spread across the country, major corporations are increasingly taking notice and investing in the industry. In April of 2023, a major beverage company announced a $100 million investment in a cannabis-infused drink startup, signaling the growing trend of large corporations entering the cannabis space.

Here is a map of all the cannabis stores in Massachusetts 2023

In 2016, Massachusetts made a historic leap by legalizing cannabis for both medical and recreational use. Since then, the state has seen a flourishing cannabis industry that continues to evolve. As we step into 2023, it’s the perfect time to take stock of the cannabis landscape in Massachusetts. In this article, we’ll explore the status of cannabis legalization, delve into the regulations and laws that govern the industry, and provide a detailed map of cannabis shops in the state.

Green Wave Rising: Navigating the Global Cannabis Legalization Landscape

In recent years, there has been a growing global shift towards the legalization of cannabis. This remarkable trend has sparked intense debates and discussions surrounding the implications of such legislative changes. As cannabis becomes more widely accepted, it is crucial to examine the current state of cannabis legalization worldwide, highlighting recent developments, legislative changes, and the impact of these changes on society, the economy, and public health. By exploring the potential benefits and challenges of cannabis legalization, we can gain a better understanding of this evolving landscape.

Challenges in California’s Legal Marijuana Industry: High Costs and Compliance Hurdles

California’s legal marijuana industry is facing significant challenges, with high taxes and regulatory obstacles driving entrepreneurs towards the illicit market, according to the state’s Attorney General Rob Bonta. In a recent event held in Fresno, Bonta highlighted the excessive barriers to entry and operational costs as major roadblocks for businesses operating within the legal framework. He suggested that temporary tax reductions could be beneficial to ease the burden on legitimate operators.