Since Maine’s adult use cannabis market legalized in October of 2020, sales increased steadily each month. Last month, August of 2021, Maine surpassed its record of cannabis sales in the state. Last month the state sold over $10 million worth of legal marijuana, bringing in over $1 million in tax revenue.
According to the Press Herald, the state’s 53 retailers reported almost 134,000 sales transactions totaling $10.2 million in the month of August. So far, the adult use sector in Maine has collected about $50 million since legalization last October netting $5 million in taxes for the state. When comparing these numbers to the medical sector, medical marijuana brought in a whopping $250 million sales in 2020. Experts expect the sales numbers to increase over the next few years with limitations due to lack of supply.
Maine struggled in the years leading up to 2020 to legalize marijuana due to federal legalization and lack of bi-partisan support but the venture has proved fruitful for the state. Within the next few years, Maine expects to increase the amount of licensed testing labs in the state which would decrease cost and testing times for regulated weed. If more labs are introduced, prices for marijuana will decrease and experts believe this would increase sales.
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