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Massachusetts adult-use marijuana sales have officially exceeded $7 billion since the state’s legal market launched in 2018, regulators announced. And $1 billion of that total came in just seven months—marking a state record.
The Massachusetts Cannabis Control Commission (CCC) said the state reached the $7 billion mark on November 19, eight days before the marijuana retail holiday known as Green Wednesday, which saw nearly $8 million in cannabis purchases alone. That comes in as the state’s second-best marijuana sales day ever, following the unofficial 4/20 cannabis consumer holiday earlier this year.
It was on April 17 of this year when Massachusetts recreational marijuana sales hit the $6 billion mark since launch.
“These sales figures demonstrate that Massachusetts customers remain loyal to their local cannabis businesses, they trust the Commonwealth’s regulated marketplace and tested products, and they will continue bolstering the longest-running adult-use market along the East Coast,” Acting CCC Chair Bruce Stebbins said in a press release.
“We look forward to tackling ongoing policy matters in 2025 that will further strengthen our market—beyond recent regulatory changes for delivery and microbusiness licensees—and the upcoming implementation of a new social consumption framework,” he said.
Meanwhile, the commission said that medical marijuana purchases have totaled nearly $1.4 billion since it took over the program, and patients have purchased $177 so far in 2024.
“Coinciding with the $7 billion adult-use sales milestone, the average price of flower in Massachusetts has reportedly decreased to $4.58 per gram,” CCC said. “According to Metrc data, cannabis flower (e.g., buds, shake, trim) and pre-roll products were the biggest sellers over the Green Wednesday holiday week, generating a combined $22.7 million in sales. Vape products were the second-most popular ($8.5 million in sales) followed by edibles ($4.8 million).”
Meanwhile, the commission recently approved a proposed regulatory framework to allow for social consumption sites where adults can use cannabis. However, the rule is currently in limbo as CCC searches for a permanent executive director.
The marijuana sales milestone was achieved just days after Massachusetts voters defeated a ballot measure to legalize psychedelics, rejecting the proposal that would have allowed adults 21 and older to legally possess, grow and share certain amounts of substances such as psilocybin, ibogaine and DMT.
Combined medical and adult-use marijuana sales surpassed $7 billion back in March.
Last year, the state set a monthly sales record of $158.7 million worth of legal cannabis products, according to CCC figures—bringing the state’s total recorded sales for 2023 to nearly $1.8 billion.
Meanwhile in Massachusetts, officials have also explored how to regulate THC-infused hemp products that are sold in liquor stores and smoke shops.
A workforce development program that receives federal funds also warned partners earlier this year that it’s restricted from using those resources to aid the state-legal marijuana industry—though it can use the money to provide services to the hemp industry, which is federally legal.
Kyle Jaeger via (https://www.marijuanamoment.net/massachusetts-recreational-marijuana-sales-hit-7-billion-milestone-with-record-breaking-seven-month-surge-officials-say/)
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