The $9.7 million in adult-use cannabis sales Maine banked in September might come in the shadows of current retail behemoths like California, Michigan, and Illinois. Through the first half of 2021, California averaged more than $430 million per month in taxable cannabis sales, while Michigan recorded $124.9 million in adult-use sales in September and Illinois tallied $121.7 million last month. But those are the three most populated states currently up and running with adult-use sales. Not only is Maine still finding its footing—its adult-use sales launched Oct. 9, 2020—but it’s the second-smallest state by population to roll out adult-use retail. Only Alaska has a smaller in-state customer base. Furthermore, only 10% of municipalities in Maine have opted in and allowed licensed retailers to set up shop. Overall, Maine’s adult-use sales from Oct. 9, 2020, through September 2021 surpassed $58.5 million, according to the state’s Office of Marijuana Policy (OMP). With sales figures from the first eight days of October 2021 yet to be tallied, Maine’s first-year sales figures are fixing to eclipse the $60-million benchmark.

Chad Morphy, Cannabis Business Times, 10/28/2021 16:48:00

Open article: