The Maryland medical cannabis market is flourishing. Annual sales have reached almost half a billion dollars with continued growth expected. The state is under intense pressure to legalize recreationally.
Medical Use: Yes
Adult Use: No
Market Potential
A
There is great market potential in Maryland for those looking to start a retail, manufacturing and testing lab cannabis business.
Licensing
B-
The annual licensing fees in Maryland are expensive.
Competition
B-
There are 92 dispensaries per capita in Maryland. Competition is rather high.
Tax/Regulatory Structure
A+
No taxes.
Maryland Cannabis Details
Population (Rank)
6,046,000
#18
Size/Density
622.5 sq. miles
#10
Medical Cannabis?
Yes
2014
Adult-Use Cannabis?
No
NA
2020 Medical Sales
2022 Projected Medical Sales
$79,000,000
$139,000,000
+76
2020 Adult Use Sales
2022 Projected Adult Use Sales
NA
$289,000,000
NA
Regulatory Agency
Maryland Medical Cannabis Commission
https://mmcc.maryland.gov/Pages/home.aspx
# of Dispensaries (allowed/issued)
2 per senatorial district
50
# of Cultivators (allowed/issued)
15
15
# of Manufacturers (allowed/issued)
No limit
15
# of Testing Labs (allowed/issued)
No limit
0
Vertical Integration?
Allowed
Residency Requirements?
None
Social Equity?
Has been proposed
Cannabis Taxes
Combined Tax Rate
None
Excise Tax
None
Retail Sales Tax
None
Local Sales Tax
None
State Sales Tax
None
Cultivation Tax
None
Licensing Fees (per year)
*Varies based on gross revenue
