Maine's legal marijuana market begins to boom as state breaks another sales record
Marijuana sales in Maine have shown no signs of slowing down as the state set another record for monthly sales in May.
Sales totaled $5.36 million last month, which is $1 million more than the previous record-breaking month in April, according to Maine’s Office of Marijuana Policy.
In total, marijuana retailers conducted 71,843 transactions in May with smokable marijuana making up 59% of those sales, marijuana-infused products accounting for 23% and concentrates rounding out the final 18%.
“One of the main goals of cannabis legalization is to diminish the illicit market,” said Erik Gundersen, director of Maine’s Office of Marijuana Policy. “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. 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.”
Maine’s adult use market launched on Oct. 9, 2020, with only six active licensees in the state. Now, just eight months later, there are 34 retailers licensed in the program and more than 50 municipalities across the state have opted into the program with a total of $22.77 million of products being sold so far.
Maine’s Office of Marijuana Policy is a division of the Department of Administrative and Financial Services and is ultimately responsible for the oversight of all aspects of legalized marijuana in the state, including Maine’s medical and adult-use programs. Sales data is still preliminary and subject to further revision following an audit.
The legal marijuana industry in Maine is booming as more people get involved in the market.
“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,” said Gundersen. “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.”
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