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Massachusetts reached a new marijuana sales milestone leading up to 4\/20 last week, with the state crossing the $6 billion mark since the adult-use market launched, regulators announced. And the state broke a single-day sales record on the holiday itself, with $8.5 million in sales.<\/p>\n
As of last Wednesday, Massachusetts logged $6,003,985,070 in recreational cannabis purchases. It was only last September that the state exceeded $5 billion in sales, meaning this is \u201cthe shortest it\u2019s taken for Massachusetts businesses to generate another $1 billion dollars in gross sales,\u201d the Cannabis Control Commission (CCC) said on Wednesday.<\/p>\n
\u201cI continue to be encouraged by these sales milestones because they show that the industry is strong and efficiently regulated, both spurring economic development and critical tax revenue for the Commonwealth and providing safe, tested products for consumers and patients alike,\u201d Ava Callender Concepcion, acting chair of CCC, said in a press release.<\/p>\n
\u201cWith a wave of new statutory and regulatory changes beginning to take shape in Massachusetts, I\u2019m confident that our industry is well-positioned to continue adapting, expanding, and creating more equity-driven pathways for individuals pursuing their entrepreneurial and career aspirations,\u201d she said<\/a>.<\/p>\n var divElement = document.getElementById(‘viz1713985118182’); var vizElement = divElement.getElementsByTagName(‘object’)[0]; if ( divElement.offsetWidth > 800 ) { vizElement.style.width=’100%’;vizElement.style.height=(divElement.offsetWidth*0.75)+’px’;} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width=’100%’;vizElement.style.height=(divElement.offsetWidth*0.75)+’px’;} else { vizElement.style.width=’100%’;vizElement.style.height=’1727px’;} var scriptElement = document.createElement(‘script’); scriptElement.src = ‘https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js’; vizElement.parentNode.insertBefore(scriptElement, vizElement); <\/p>\n The new data comes one month after regulators announced that licensed medical and<\/em> adult-use retailers had sold more than $7 billion in marijuana<\/a> combined. That total is now at about $7.3 billion.<\/p>\n These market trends come as the price of marijuana in Massachusetts continues to fall\u2014from a high of nearly $15 per gram of flower when stores first open to almost $5 per gram this year.<\/p>\n This past December, the state set a new monthly sales record of\u00a0 $158.7 million worth of legal cannabis products<\/a>, according to CCC figures\u2014bringing the state\u2019s total recorded sales for 2023 to nearly $1.8 billion.<\/p>\n Massachusetts Marijuana Establishments reached another milestone on 4\/17 by surpassing $6 billion in gross adult-use cannabis sales, followed by the best-ever sales day for the industry on 4\/20, with $8.5 million in sales recorded. Read more: https:\/\/t.co\/hc3fbVfc6X<\/a><\/p>\n \u2014 Massachusetts Cannabis Control Commission (@MA_Cannabis) April 24, 2024<\/a><\/p>\n<\/blockquote>\n\n Meanwhile, Massachusetts officials are also exploring how to regulate THC-infused hemp products that are sold in liquor stores and smoke shops<\/a>, with lawmakers recently holding a hearing on the matter.<\/p>\n A workforce development program that receives federal funds also recently\u00a0warned partners that it\u2019s restricted from using those resources<\/a>\u00a0to aid the state-legal marijuana industry\u2014though it can use the money to provide services to the hemp industry, which is federally legal.<\/p>\n \u2014 Earlier this month, Massachusetts officials unanimously approved the governor\u2019s recent proposal<\/a> to pardon thousands of people with misdemeanor marijuana convictions<\/a> of their records.<\/p>\n Also, a joint legislative committee held a hearing last month to discuss an initiative that would legalize psychedelics<\/a>\u00a0that may appear on the November ballot if lawmakers decline to independently enact it first.<\/p>\n The governor\u00a0also filed a bill last year to create a psychedelics working group<\/a>\u00a0to study and make recommendations about the potential therapeutic benefits of substances like psilocybin and MDMA for military veterans.<\/p>\n New York Marijuana Deal Put Private Investors Ahead Of Social Equity And Taxpayers, Investigation Finds<\/a><\/p>\n<\/blockquote>\n\n Photo courtesy of WeedPornDaily<\/a>.<\/em><\/p>\n The post Massachusetts Saw Record-Breaking Marijuana Sales On 4\/20, Pushing State Across $6 Billion Mark For Recreational Purchases<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
Massachusetts reached a new marijuana sales milestone leading up to 4\/20 last week, with the state crossing the $6 billion mark since the adult-use market launched, regulators announced. And the state broke a single-day sales record on the holiday itself, with $8.5 million in sales. As of last Wednesday, MassachusettsContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":74588,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1335,18],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/74587"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=74587"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/74587\/revisions"}],"predecessor-version":[{"id":74589,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/74587\/revisions\/74589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/74588"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=74587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=74587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=74587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Sales](\"https:\/\/cannabiscultivatornews.com\/home\/wp-content\/uploads\/2024\/04\/1_rss.png\")
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\nRead More: Massachusetts Saw Record-Breaking Marijuana Sales On 4\/20, Pushing State Across Billion Mark For Recreational Purchases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"