US (MA): State passes $1 billion in cannabis sales

Four years to the day after Massachusetts legalized recreational cannabis, the state announced that cannabis businesses across the state have surpassed $1 billion in non-medical cannabis sales. 

According to the Cannabis Control Commission, 80 Massachusetts cannabis retailers, as of Oct. 30, reported $1,000,521,905 in sales since stores opened in November 2018.

"This sales milestone represents licensees’ ability to successfully support a safe, accessible and effective adult-use industry, and I am pleased the resulting tax benefits will have a significant impact on communities throughout the commonwealth," Commission Chairman Steven J. Hoffman said in a statement. "These numbers also speak to commission licensing and enforcement staff working around the clock to make sure these businesses and their products comply with all of our regulations, especially the health and safety provisions."

Tuesday’s milestone comes despite a 60-day shutdown of the recreational cannabis industry earlier this year due to the coronavirus.

Read more at bizjournals.com


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