Last month, August 2021, Maine hit another huge record in cannabis sales, hitting over $10 million in just one month.
In fact, the previous record was set just a month prior to that. In July, Maine’s cannabis sales hit just shy of $9.5 million. Cannabis legalization in Maine is coming up on its five-year anniversary and the state is benefiting greatly from it. According to the Office of Marijuana Policy (OMP), roughly $10.2 million was generated in about 6 figures worth of cannabis transactions. Around 134,000 transactions were made that led to over $1 million in tax revenue for the state of Maine.
Summertime Cannabis Sales in Maine
Summertime in Maine had a huge amount of cannabis purchases. From June to August, Maine cannabis sales averaged $8.7 million a month. With June sales around $6.5 million, Maine cannabis sales almost doubled by August. By the end of August, there had been a count of 53 active cannabis dispensary licenses. If that wasn’t big enough news, then the OMP accounting for 185 retail store license applications in process should be.
Image Via @maine_craft_cannabis on Instagram
The East Coast state has shown growth in consecutive months through cannabis sales since the sale of recreational cannabis began back in October 2020. However, the cannabis industry faced huge obstacles in the beginning. Things like a tough opposition pushback by the former Governor, Paul LePage (R), and the detrimental coronavirus pandemic.
Projected Progress in Maine Cannabis Industry
Despite the struggles, the market was still able to launch. However, there were only six active Maine licenses at the beginning. Fortunately, Maine’s cannabis industry accrued $1.4 million in revenue because of the 21,194 transactions that took place, with only six active licenses existing in the state.
Maine is showing huge progress in the growth of its cannabis industry. The actions taken by the municipalities of Maine made this progress possible. Not a single one has completely opted out of the adult-use market. This means some cities or counties may not allow all aspects of the market to exist within their jurisdiction, like cultivation, testing, or manufacturing. With the communities of Maine onboard, there is nothing stopping the state from breaking record sales again this month and showing that it has its own striving market, in its own merits, like states like California and Colorado.
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