The exact size and scope of Maine’s medical marijuana market has been revealed for the first time thanks to new sales tax data.
The figures, provided by the Maine Department of Administrative and Financial Services and reported on by the Portland Press Herald, showed that the market is much larger than previously believed. Last year, state residents purchased more than $111.6 million worth of medical cannabis which, according to the Press Herald, is dwarfed by Maine’s lobster market ($485 million) and the potato market ($167 million) but “bigger than blueberries, maple syrup, apples, elvers, herring and oysters – combined.”
Most of the $111.6 million was accounted for by medical cannabis sales by caregivers, who sold around $85 million worth, which is about 76 percent of the market. The remaining $26. million was generated by sales at the state’s eight medical cannabis dispensaries.
The figures were made possible after Maine officials gave the medical marijuana industry its own tax category.
Dawson Julia, who was the first caregiver to open a marijuana shop in Maine, told the Press Herald that the figures give caregivers like him leverage.
“This is huge for us,” Julia told the Press Herald. “You want the tax revenue