WATCH – High profits –
Jan. 9, 2021 – “Despite all the market challenges, everything from COVID to supply chains and beyond, Maine has done a really good job getting this market up and running,” said Thomas Winstanley, vice president of marketing for Theory Wellness, which has locations in South Portland and Waterville. “Cannabis is becoming part of the social fabric.”
Nearly a third of U.S. states have approved legal adult use marijuana. That includes several states with longer established marijuana programs and four that just went legal in the 2020 elections and are developing programs.
But only Maine went legal in 2016 and then took nearly four years to create a legal framework for retail sales. Those sales began in October, just as the pandemic was worsening in the state and around the country.
Cannabis sales in Maine are much less than Massachusetts, which also went legal in 2016 and was swifter to set up its marijuana program. Officials in Massachusetts have reported more than $1 billion in sales going back to fall 2018.