It’s only been six short months since “adult use” recreational cannabis became legal and Massachusetts dispensaries opened their doors for sales. In only half a year, the state has nearly doubled its original projections on sales.
In a report by MJBizdaily, as of the last week of May, 2019, cannabis sales in Massachusetts approached $140 million dollars, with an average of just under $23 million dollars brought in per month.
According to the Massachusetts Department of Revenue, they expected to collect between $44 million and $82 million dollars in taxes within the first fiscal year of cannabis legalization. Now, however, estimates from MJbizdaily predict the market as a whole may bring in close to $500 million dollars total by the end of 2019.