Guinea Pig of East Coast, Massachusetts Adult-Use Sales Hogging Up Market


<![CDATA[Massachusetts is one of four states where voters passed adult-use cannabis legalization measures five years ago today, providing the most populated market in New England a head start on its neighbors. While it took Massachusetts two years before launching adult-use sales in November 2018, it was the first state east of Colorado to serve adult-use consumers. Also passing adult-use ballot measures in the 2016 election, Nevada voters approved Question 2 with a 54.5% majority, California voters passed Proposition 64 with a 57.1% majority, and Maine voters squeezed through Question 1 with a 50.3% majorityLaunching adult-use sales July 1, 2017, Nevada was the quickest among the four states to roll out a retail program. In its fourth fiscal year (from July 2020 through June 2021), Nevada became a billion-dollar market, averaging $83.6 million in sales each month, according to data from the Nevada Department of Taxation.Representing the largest cannabis market in the world, California launched adult-use sales Jan. 1, 2018. The retail behemoth averaged $430 million in monthly sales through the first half of 2021, according to data from the California Department of Tax and Fee Administration. Maine took the longest, launching adult-use sales on Oct. 9, 2020. Still finding its footing, Maine has averaged $6.4 million per month in sales this calendar year, according to data from the state’s Office of Marijuana Policy. RELATED: The First Year: Maine Banks $60 Million in Adult-Use Cannabis Sales With Room to GrowMeanwhile, the guinea pig of the East Coast, Massachusetts took two years following the passage of Question 4 (by a 53.7% majority) before launching adult-use sales three years ago this month. Since that launch, sales figures remain on an upward trajectory. Massachusetts eclipsed $1.1 billion in the first 10 months of 2021 for a monthly average of more than $110 million, according…

Excerpt only …
Source : Guinea Pig of East Coast, Massachusetts Adult-Use Sales Hogging Up Market

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.