Medical marijuana has been available for sale in Massachusetts since 2012, which has since affected the state in many ways, including the economy. By the end of 2016, Massachusetts voters decided to legalize recreational marijuana in the state, but sales aren’t expected to begin for at least another six months. By the end of the year, the Massachusetts marijuana will reach its peak, even though the state still has to wait for full legalization.
Under current Massachusetts law, every municipality receives an equal share of the marijuana tax revenue regardless of whether they have banned cannabis sales within their jurisdiction or not. The law also says that municipalities can choose to outlaw marijuana even though it’s legal throughout the state, so multiple proposals have been made to reduce the amount these cities can get from the state’s tax revenue. The marijuana economy will continue to grow without these individual cities, because by 2020 recreational and medical cannabis could be a $1.1 billion industry in the state. Researchers predict that revenue from recreational sales would top $300 million in 2018, the first full year of legalization. This number will only increase as more people begin to join the Massachusetts marijuana industry.