Massachusetts has been a forward-thinking state for a long time. Residents often vote for progressive policies and support movements like gay marriage or federal cannabis legalization, and the recent news coming out of the state demonstrates this further.
The adult-use cannabis industry is thriving in Massachusetts. Although it’s a small state, they’ve garnered an impressive $5 billion in revenue since legalizing recreational cannabis sales in 2016 and opening dispensaries in 2018. They also have over a decade of medical sales under their belt.
With more than 300 dispensaries now operating throughout the state, there’s serious potential for the market to continue growing. This is further evidenced by their December 2023 sales, which reached $158.7 million and smashed previous sales records. Their combined medicinal and recreational sales for 2023 hit nearly $2 billion, with about $226 million of that attributed to medicinal marijuana.
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There are some fluctuations throughout the year, but on the whole, the Massachusetts market is thriving and should only continue to do so in the coming years. The state now generates more in taxes from cannabis than from alcohol.
Psychedelic legalization activists were successfully able to gather enough signatures to push state legislature to consider their initiative, which would create licensed psychedelic facilities and allow for possession and gifting of natural substances like psilocybin mushrooms. However, it’s important to note that this would not allow for commercial sale and retail facilities as of yet.
Government officials have until May 1 to make a decision. If they do not pass it, activists must gather around 13,000 more signatures to get the measure on the ballot for the 2024 election.
This is not the only psychedelic news underway in Massachusetts–there are several other bills, proposals, and measures currently being considered that would fund studies, legalize mushrooms, or deprioritize penalties for possession. Hopefully, at least one of these will be approved and put Massachusetts at the forefront of the growing psychedelic movement spreading throughout the country.
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