Maryland Cannabis Market
The cannabis consultants at Point Seven Group are experts in the Maryland cannabis market. We have successfully helped our clients obtain cannabis licenses, design dispensaries, build identifiable cannabis brands, and operate compliant cannabis businesses. Our team of cannabis experts can help you reach your business goals in the Maryland cannabis market!
MEDICAL MARIJUANA IN MARYLAND
In May 2013, Maryland Governor O'Malley signed legislation that established a limited medical marijuana program. The legislation restricted cannabis distribution to academic medical centers, which would monitor and report on patient use. In April 2014, Governor O'Malley signed HB 881, which took effect on June 1, 2014, and allowed for the creation of a licensed cannabis business infrastructure.
Despite being one of the first states to legalize medical cannabis on the East Coast, the program, known as the Natalie M. LaPrade Maryland Medical Cannabis Commission (MMCC), finally became operational on December 1, 2017, four years later. The MMCC was formed to develop policies, procedures, and regulations to create effective programs that protect and ensure medical cannabis is safely and readily available to qualifying patients. The medical cannabis licensing process was initiated in 2016, but upon awarding licenses, conflict and lawsuits arose stating that they were awarded because of political ties rather than fair rankings.
ADULT-USE CANNABIS MARKET PROJECTIONS IN MARYLAND
Maryland’s medical cannabis industry experienced several years of rapid growth and consolidation through 2022, until which point the market appeared to be fully mature due to flattened sales. With a desire to quickly launch the adult-use cannabis industry and combat the illicit market, the Maryland legislature roughly tripled the number of licenses for dispensaries, processors and growers, while adding micro licenses for smaller operations. Almost every existing medical cannabis dispensary, processor and cultivator in Maryland has been approved to join the recreational industry, according to state regulators, paying fees that typically range between $100,000 and $2 million based on their revenue. Industry analysts are expecting a similar trajectory to Missouri based on this initial rollout and comparable population size, and the first week of legalized recreational cannabis in Maryland proved extremely profitable – with the state's residents spending more than $20.9 million at dispensaries.
BDSA forecasts that legal sales in Maryland will total $642 million in 2023; nearly a third from adult-use. Maryland is set to become a billion-dollar market in 2025 — with total sales forecast to reach $1.1 billion that year and continue to grow to $1.3 billion by 2027.
MARYLAND CANNABIS NEWS
Maryland Cannabis Expungement & FeloniesJanuary 29, 2024
Everything You Need To Know About Maryland Marijuana LegalizationSeptember 28, 2023
Navigating the Maryland Cannabis Licensing Timeline: From Ballot to BusinessSeptember 25, 2023
The History of Cannabis in MarylandAugust 30, 2023
MARYLAND CANNABIS LAWS
As of July 1, 2023, adults in Maryland are legally permitted to possess up to 1.5 ounces of cannabis and/or 12 grams of cannabis concentrates, and may grow up to two cannabis plants in their homes for personal use. Possession of between 1.5 and 2.5 ounces is punishable by a civil fine of up to $250, and over 2.5 ounces is punishable by up to a $1,000 fine and up to six months in jail.
Maryland law establishes a process to facilitate the expungement of past eligible convictions and also allows for the resentencing of those incarcerated for eligible cannabis crimes.
Effective July 1, under recently enacted legislation, cannabis odors are not whatsoever "probable cause or justifiable" to be pulled over and searched by police or law enforcement. Evidence of cannabis and money within vehicles can not be used against individuals as well under law.