Report: Marylanders will consume a lot of weed
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Over 65% of Marylanders chose to legalize recreational cannabis in the midterms of November. Beginning in July, adults over the age of 21 can legally possess up to an ounce and a half of marijuana and 10 grams of cannabis concentrates.
Legislators are now expected to create a regulatory framework for the new and emerging markets as the state general assembly is due to return to Annapolis for its 90-day session later this week.
To that end, researchers from Cannabis Public Policy Consulting conducted a study to examine what the demand for cannabis looks like, reports WYPR News.
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Michael Sofis, the company’s director of research, and Mackenzie Slade shared the findings during last week’s briefing with lawmakers working on an issue of marijuana legalization.
Based on their findings, Sofis forecast a resilient retail market, as Marylanders who use marijuana tend to use an average of 25.4 grams per month. That’s nearly five grams more than users in other states where recreational cannabis use is legal, according to the study, which included thousands of Marylands.
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Additionally, according to the survey, cannabis users would put aside $14 per gram of marijuana and drive up to 20 minutes to purchase the product.
“It was really shocking for me,” said Sofis. “It reflects a certain level [of]I wouldn’t say passion, but an underlying motivation for cannabis.”
Marijuana advocates call for justice to be implemented
Meanwhile, Prince George’s County residents and cannabis advocates are calling on lawmakers to look to erasure, equitable access for business owners, and reinvestment in communities as they move forward with the marijuana legal framework, DC News Now reported.
“We wanted them to have a very strong equity perspective on the creation of these laws as well as the distribution of funds and profits from this particular cell of this drug,” said Jana Parker, a member of PG ChangeMakers. “I think we have a really great opportunity in the state of Maryland to set precedent to really right the wrongs that the incarceration of people on marijuana and cannabis has done, especially in the capacity you’re moving into now, you know , Legalize and sell this particular drug and make massive profits in the millions and billions of dollars.
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MSOs prepare for launch
Legislators are expected to finalize rules and regulations covering licenses, taxes and more before July 2024. Those who operate some of the largest state operators already in the state’s medical marijuana market, such as Curaleaf Holdings Inc., Verano Holdings Corp., TerrAscend Corp., and Trulieve Cannabis Corp. are preparing to start selling recreational marijuana.
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James Leventis, EVP of compliance and government affairs at Verano, recently told Benzinga’s Nina Zdinjak that the sale of recreational cannabis should benefit cannabis operators of all sizes. Adult cannabis “will bring tremendous economic growth, tax revenue and career opportunities that will benefit businesses, individuals and communities across the state.”
Curaleaf CEO Matt Darin agreed with Leventis’ comments.
“There is plenty of room for growth by operators of all sizes while ensuring the state meets its social justice goals,” he said. “Maryland borders a constitutional state, which gives local industries an opportunity to regain market share by allowing consumers to shop closer to where they live.”
This article originally appeared on Benzinga and has been republished with permission.
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