On November 8, 53 percent of Massachusetts voters said “yes” to Question 4, which legalizes cannabis for use by adults age 21 and older.
Cannabis Wire wrote last week about the strong opposition to the initiative, as well as what it would mean for the cannabis industry in the state if Question 4 passed.
More than any other legalization effort in the last few months, Massachusetts’ legalization campaign faced a strong “no” side. The governor, Boston’s mayor, and the state attorney general all vocalized opposition to Question 4. Even Boston’s Archdiocese joined the “no” side with an $850,000 contribution.
Now that legalization has passed, though, changes are in store for the state’s cannabis industry.
With an estimated 546,000 regular cannabis consumers age 21 and older, Cannabis Wire estimates that sales could hit $840 million by 2020. That won’t necessarily translate into a lot of revenue for the state; Question 4 included a low cannabis-specific tax of 3.75 percent at the retail level.
Like other states, existing license holders would be first in line to serve recreational use consumers, should they want to. They can apply for a variety of license types, from cultivation, product manufacturing (edibles), retail, and testing (quality control, potency, pesticides).
For more details about this initiative, and a 50+ page dive into the state that will shape the cannabis industry for years to come, check out the recently released Cannabis Wire California Legalization Report.