State House News Service | Cannabis Sales in Massachusetts Top $1B for Third Straight Year

By Alison Kuznitz

BOSTON — Looking to sidestep controversy over the Cannabis Control Commission leadership, regulators highlighted the increasing profitability of the industry Thursday while discussing their work to implement a state law promoting diversity in the sector and creating a path for social consumption sites.

The industry hit a milestone last week, with adult-use retailers generating a cumulative $6 billion in gross revenues since operations began in 2018, Acting CCC Chair Ava Callender Concepcion said during an annual “State of Cannabis” event. On April 20, considered a holiday for cannabis enthusiasts, the Bay State industry logged its best-ever sales day, bringing in $8.5 million in sales.

“The industry continues to grow here in the commonwealth of Massachusetts,” Concepcion said. “This past December was a record-breaking month of sales where we brought in more than $140 million in revenue. 2023 was also the highest grossing year since the industry became operational in 2018. This has now been the third consecutive year where Massachusetts retailers have surpassed $1 billion in revenue in a single calendar year.”

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