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Monday, May 27, 2024

It’s Official: Maryland’s Cannabis Legalization Law Is In Effect, Sales Already Going Strong – Curaleaf Holdings (OTC:CURLF), Green Thumb Industries (OTC:GTBIF)

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Recreational cannabis officially became legal in Maryland on Saturday, July 1 and the rollout was well organized by all accounts, that is if you didn’t mind waiting in line. Medical marijuana cardholders and newcomers had only to show their IDs before they stepped through the doors of the dozens of weed shops that welcomed them all around the state. 

Nearly 100 existing cannabis companies were approved to make the switch to become dual license holders and can now serve both medical patients and adult consumers over 21. 

Gov. Wes Moore said on Saturday that the legalization of recreational cannabis in Maryland will help communities harmed by marijuana criminalization.

“We are writing a new chapter in the story of cannabis in America,” Moore said on Twitter. 

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“Maryland, starting today, recreational cannabis is officially legal for adults in our state. We are writing a new chapter in the story of cannabis in America. One that will lift communities harmed by criminalization and build a more competitive and more equitable economy.”

Maryland Attorney General Anthony Brown described the legalization of recreational cannabis sales as a step forward in rectifying past injustices.

“In legalizing cannabis, we are abandoning a failed criminal justice policy that perpetuated the over-policing, over-arrest, and over-incarceration of too many Marylanders, particularly Black and brown people,” he said.

Cannabis Companies Are Also Delighted  

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Matt Darrin, CEO of Curaleaf CURLF, which has been operating in the Maryland market since 2017, said he was proud of the company’s team there. 

Other cannabis shops functioning in Maryland include RISE Dispensaries, owned by Green Thumb Industries Inc. GTII GTBIF, Trulieve Cannabis Corp. TRUL TCNNF, which has three dispensaries in the state, Cookies Baltimore, Verano Holdings Corp. VRNO VRNOF and more.

Photo: Twitter

 



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