MONTGOMERY COUNTY, Md. - Maryland is now the 20th state in the nation to launch adult-use cannabis.
The state will now allow companies to serve medical cannabis to customers, and they have been preparing for an uptick in the adult-use cannabis market as the new law went into effect Saturday, July 1.
Maryland residents voted for recreation cannabis use in a November 2022 referendum. In May, Governor Wes Moore signed into law the Cannabis Reform Act, making Maryland the 25th state or U.S. territory to legalize adult-use cannabis.
Rise Dispensaries is one of many businesses that stepped up to take advantage of the new law and cannabis' new status.
"We have been thinking for a long time that Americans across the country are going to choose cannabis, and we see 6 million people in Maryland, and we know it’s going to be a large business here," Ben Kovler, CEO and Founder of Green Thumb and RISE Dispensary.
Each of RISE's dispensaries will donate a portion of their proceeds from their first day of adult-use business to local nonprofits.
Under state law, adults 21 and up will be able to grow up to two plants for their personal use, and be in possession of up to 1.5 ounces of cannabis which will be taxed at 9%.
Montgomery County Executive Marc Elrich said recently, he is considering a county law which would limit advertising by dispensaries to prevent marketing to kids.