Massachusetts awards first recreational marijuana retail license

A day after Massachusetts’ adult-use program was slated to begin, state regulators awarded the first license to sell recreational marijuana.

The Cannabis Control Commission voted Monday to permit Cultivate Holdings in Leicester to begin selling recreational cannabis, according to MassLive.com.

The program was slated to begin recreational marijuana sales July 1, but the start date wasn’t mandated by law.

It’s unclear when rec cannabis sales will begin, as regulators are still working on licenses in a several other areas, including lab testing and transportation.

Here’s what you need to know:

  • Cultivate Holdings has submitted applications for manufacturing and cultivation licenses, but those have yet to be awarded.
  • The state did award a cultivation license to Sira Naturals in Milford last month. Sira Naturals also grows medical marijuana, but it’s unknown when the company will have recreational cannabis ready for sale.
  • Regulators on Monday awarded transportation and product manufacturing licenses to Sira Naturals.
  • As of last week, the state was processing 19 applications for retail licenses, MassLive.com reported.

Exclusive: US marijuana sales may reach $10 billion this year, $22 billion by 2022

Exclusive: US marijuana sales may reach $10 billion this year, $22 billion by 2022

Retail sales of medical and recreational cannabis in the United States are expected to hit $8 billion-$10 billion this year – a nearly 50% increase from 2017 – and rise as high as $22 billion by 2022.

That’s according to exclusive projections from the 2018 edition of the Marijuana Business Factbookreleased Wednesday at the start of MJBizConNEXT in New Orleans.