April 13, 2024

Retail weed gross sales in Massachusetts hit the $5 billion mark, in line with a press launch from the state’s Hashish Management Fee (CCC). In January, adult-use gross sales reached $4 billion and a mere eight months later surged to $5 billion.

With extra East Coast states launching authorized marijuana applications, some in Massachusetts anxious that competitors within the neighborhood would possibly lower into the state’s gross sales. However that clearly didn’t occur. The eight-month interval between the $4 billion and $5 billion benchmarks was a remarkably quick time to generate $1 billion in gross sales.

“Massachusetts continues to hit document gross sales at the same time as different states have come on-line. Actually, our neighboring states Maine, Rhode Island, and Connecticut additionally had document gross sales this summer season,” mentioned CCC govt director Shawn Collins in a assertion. “Demand for examined, high quality hashish merchandise stays sturdy within the area, and customers buying in different states haven’t impacted Massachusetts’ success.”

Because the first two leisure hashish outlets opened in Massachusetts – the primary on the East Coast – in November 2018, “the tempo of hitting the subsequent $1 billion combination product sales milestone has continued to quicken, with every subsequent tally occurring quicker than the earlier one,” the CCC famous within the assertion.

A Buddy In Excessive Locations

At a June gathering in Boston, Senator Elizabeth Warren (D-MA) threw down the gauntlet when she referred to as for hashish legal guidelines to maintain firms like Massive Tobacco, alcohol and retail giants from dominating the hashish business and be sure that communities most harmed by the warfare on medicine additionally reap the advantages of legalization. 

“Already, aspiring weed billionaires and highly effective firms like Amazon AMZN and Altria (NYSE: MO) (aka Philip Morris) are hounding Congress to move payments that may allow them to be the primary to revenue from federal legalization— forsaking small enterprise homeowners and the numerous communities that have been torn aside by a long time of over-policing,” Warren mentioned.

“Now could be the time to get artistic and assume huge about how we will guarantee equity and competitors within the hashish business,” the Senator added.


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