Last month brought a brand-new turning point for Maine’s recently established leisure marijuana market, with the state’s Office of Marijuana Policy reporting $5.3 million in sales in May for certified sellers.
The figure makes it “the highest grossing month since the industry launched” last October.
Erik Gundersen, the director of Maine’s Office of Marijuana Policy, said in a declaration on Tuesday that a person of “the main goals of cannabis legalization is to diminish the illicit market.”
“The strong month-over-month growth here in Maine, just seven months after the official launch of the industry, suggests more and more consumers are choosing the tested, tracked, and well-regulated market over the illicit market,” Gundersen stated. “That is a positive sign for Mainers’ health and for the viability of the industry. With Maine’s busy summer season upon us, our effective regulation of the industry will continue.”
In states and nations where cannabis has actually been legislated, the regulated market typically drags the illegal market, with clients often relying on the latter for more affordable choices.
A report in 2019 discovered that California’s uncontrolled market was 3 times bigger than the managed market, 3 years after the state ended restriction on pot.
Maine’s sales overalls in the managed market for May were “$1 million above the previous record-breaking month of April,” according to the Office of Marijuana Policy, as certified “retailers conducted 71,843 transactions in May, with smokable marijuana making up 59 percent of sales, while infused products and concentrates accounted for 23 percent and 18 percent, respectively.”
“In the seven months since the launch of Maine’s adult-use market, gross sales of adult-use marijuana have climbed steadily to a total of $22.77 million in Maine. Thirty-four retailers are now licensed in the program, and more than 50 municipalities across the state are opted-in to the program,” the firm stated in a news release on Tuesday.
The Legal Market in Maine was Originally Off to a Slow Start
Legal cannabis sales in Maine officially launched on October 9 of last year, practically 4 years after citizens in the state authorized legalization at the tally. But the execution of the brand-new law was besieged by a string of hold-ups, starting with a recount that was set off by the thin margin of the effort’s passage by citizens.
After the outcome stood, then-Maine Gov Paul LePage, a Republican, stood in the method of the law working, reaching banning a costs in 2017 that would have pressed legalization ahead.
But LePage was eventually changed by Democrat Janet Mills, who supported the legalization effort, assisting the legal market to lastly move on.
In September of in 2015, the state began issuing licenses for prospective cannabis sellers.
When the market opened for company a month later on, there were just 6 active licenses at the time, according to the Office ofMarijuana Policy In the very first month, the state reported sales of more than $1.4 million created by an overall of 21,194 deals. Seventy- 6 percent of those preliminary month sales were created by smokable marijuana.
The firm stated on Tuesday that those licenses “conducted 16,294 transactions and grossed just more than $1 million in sales throughout the partial month, rising to approximately $4.35 million through April, with an additional $1 million added in May.”
“Since the beginning of retail sales this past fall, our adult use licensees have proven to be both innovative and resilient, as they partnered with OMP to launch a nascent industry amidst a global health pandemic,” Gundersen stated in a declaration. “As our state prepares to welcome visitors as part of the summer tourist season, I am confident they will remain committed to upholding the high standards we have for protecting the public’s health and safety.”