Quarterly state revenue from cannabis sales recently increased 52%, representing the largest quarter-over-quarter increase since the drug became legal for recreational adult use in July 2023, according to a report that Comptroller Brooke Lierman’s office released Tuesday.
The market growth resembles what “all states that have legalized adult-use cannabis have experienced,” a spokesperson for the Maryland Cannabis Administration said in a statement.
Cannabis sales contributed about $22.3 million to the state between April and June 2024, compared to $14.7 million in the first quarter of the year, the comptroller’s report states.
“The market for cannabis continues to grow in Maryland and has shown capacity to create new jobs, new investment, and new opportunities, particularly for areas that are marginalized and left behind by a changing economy,” Lierman said in a statement.
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