Maryland sees booming marijuana sales in first month of legalization

The Maryland Cannabis Administration (MCA) reminded that as of the beginning of July, marijuana sales became legal in the state.

MCA announced that the revenue from marijuana sales reached $87.4 million at the end of the first month, which is approximately "twice as much" as the previous month when marijuana was only sold to patients with medical prescriptions.

They also noted that the most preferred product in sales was the drug made from hemp flowers, which accounted for $50 million of the revenue.

According to MCA, the legalization of marijuana sales in Maryland was influenced by "extensive research by state assembly members and voting by the public."

Under the new law, Maryland police cannot use the smell or possession of marijuana as a reason to search suspects, which is different from previous practices. Additionally, the use of marijuana by parents and guardians cannot be considered "neglect" of a child by state authorities, as per a similar law.

On July 11th, the Maryland Department of Commerce announced that it allocated a $40 million grant fund for businesses needing capital support for marijuana sales, and applications for pre-approval would be open from August 1st onwards.

It was also stated that existing medical marijuana businesses in Maryland could benefit from the same fund to obtain additional licenses to serve the adult-use market.