Massachusetts Achieves Record Monthly Marijuana Sales of Nearly $152 Million in June
Massachusetts has achieved a significant milestone in its cannabis industry, with data from the state revealing that marijuana sales in June reached a remarkable high of nearly $152 million. This record-breaking figure represents the highest monthly sales since the launch of the state’s adult-use market back in November 2018.
The Cannabis Control Commission (CCC) disclosed that recreational cannabis sales contributed $132.8 million to this total, while medical marijuana purchases accounted for an additional $19 million. Over the course of five years since the market’s inception, Massachusetts has now amassed an impressive $4.74 billion in adult-use cannabis sales.
Among consumer choices, flower products continued to dominate, followed by vape products, pre-rolls, edibles, and concentrates. Interestingly, the average price of flower cannabis dropped to an all-time low of $5.82 per gram in the same month, according to CCC data.
These exceptional sales figures are particularly noteworthy considering the growth and establishment of adult-use markets in neighboring states such as Connecticut and New York. The rising popularity of these markets could potentially impact out-of-state visitor purchases. Notably, Connecticut also experienced record-high marijuana sales in the last month, reaching $24 million within six months of its recreational industry’s launch.
On the East Coast, Maryland also made headlines as its adult-use cannabis market commenced this month, generating over $10 million in sales during its opening weekend.
In Massachusetts, last year’s data marked a pivotal point, revealing that the state is generating more tax revenue from marijuana than from alcohol sales.
The Cannabis Control Commission highlighted the value of regulated marijuana establishments and medical marijuana treatment centers, which provide consumers with tested products, comprehensive packaging and labeling information, statewide accessibility, and crucial tax revenue for initiatives such as youth prevention campaigns and community reinvestment funds.
In another development, it has come to light that political strategists in Massachusetts are quietly pursuing a therapeutic psychedelics legalization initiative to be included on the state’s 2024 ballot.
Within the legislative realm, a Republican lawmaker has introduced three psychedelics reform bills, proposing the legalization of substances like psilocybin and the rescheduling of MDMA, contingent upon federal approval, while also setting a price cap for therapeutic access.
Several other pieces of psychedelics-related legislation have been introduced in Massachusetts during this session by various legislators. These include separate measures to legalize specific entheogenic substances for adult use and authorization for the Department of Public Health to conduct a comprehensive study on the potential therapeutic effects of synthetic psychedelics such as MDMA.
