Nearly $21 Million In Weed Sales Reported In First Week of Legal Recreational Use In Maryland

Close-up of marijuana plant growing at outdoor cannabis farm.

Source: boonstudio / Getty

The Maryland Cannabis Association reported that within the first week of legalized recreational marijuana use in the state, licensed dispensaries sold nearly $21 million in weed products.

According to data, the first day of legalization brought in more than $4.5 million in total sales. Additionally, the opening weekend had $10.4 million in weed sales.

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The Maryland Cannabis Administration anticipates the industry will reap $600 million in retail sales during the first year of adult-use cannabis legalization.

Last November, Maryland voters approved legalizing adult-use marijuana.

At the current 9% tax rate, Maryland would take in $54 million to cover government oversight costs, fund community reinvestment efforts and public health initiatives, and distribute revenues to counties and municipalities.

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