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Monday, Jul 7, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.
'The First State' will soon be the latest to open a recreational market
'The First State' will soon be the latest to open a recreational market
This Best Buds location in Dover is one of the newly designated sales locations. Photo credit: Google

Cannabis

‘The First State’ will soon be the latest to open a recreational market

Adult use ganja will be a new facet of Delaware’s economy starting in August

Delaware will become the 22nd state to kick off adult use marijuana sales next month.

The government made the announcement in a press release on Jul. 1 following legislation passed in 2023 legalizing the plant’s recreational consumption and a series of delays with the rollout.

“This new industry will generate critical revenue to strengthen our schools, infrastructure, and public health systems,” said state Governor Matt Meyer, “while creating real opportunities for entrepreneurs.”

Thirteen medical dispensaries will be converting their shops into retail outlets for the masses. They were required to pay a US$100,000-dollar fee to do so last year. Meanwhile, cultivators are mandated to pay twice that amount.

These licenses have generated approximately US$4 million, which will be used for social equity grants that help new cannabis business enthusiasts enter the state market.

Delaware is implementing a 15 per cent excise tax. The state could potentially rake in up to US$40 million from it per annum. Government regulators have no plans to place other local taxes or state-specific tariffs on recreational bud, edibles and other products.

The MJBiz Facebook has estimated that the east coast state could generate a total of US$160 million from the new market by the end of next year.

“HUGE NEWS!” said Marimed Inc (OTCMKTS: MRMD) in a social media post. “We’re excited to welcome new rec customers to our dispensaries in Wilmington + Lewes.”

Residents are currently permitted to carry up to one ounce of flower and 12 grams of concentrates. Home cultivation remains prohibited for the time being.

“Delaware has been missing out on an industry, the state’s missing out on revenue and there’s been many, many customers shopping in [neighbouring] Maryland and New Jersey,” said Jen Stark in an interview with WHYY. She manages The Farm dispensaries in Felton and New Castle.

Her shops are two that have obtained the necessary licenses for the August launch.

Read more: LEEF Brands prepares to harvest over 1 million cannabis plants

Read more: Jones Soda divests cannabis-infused beverage line in US$3M sale

 

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