Maryland sales hit $100 million in overall monthly legal cannabis revenue in August 2024. Just cannabis flower sales raked in $44 million in the adult use market, but the medical market continues a slight decline.
This flood of profit continues as Maryland also announced over $22 million in taxes collected in quarter two across the state, according to a quarterly report released by the comptroller of Maryland.
The central region generated the most tax revenue, over $11 million. Almost $8 million in tax revenue was distributed to the Community Reinvestment and Repair Fund, and over $11 million was invested in the state’s general fund. Maryland counties, the Cannabis Public Health Fund and the Cannabis Business Assistance Fund received a little over $1 million each.
The average price per gram of cannabis in Maryland was just under $10. Maryland’s market continues to dominate the DMV region. Sales in September are likely to help the state hit a half billion in revenue in 2024.
