Vermont Cannabis: A Year in Review

Vermont's recreational cannabis market has come a long way since adult-use retail sales launched on October 1, 2022. What was once an uncertain experiment has stabilized into a growing industry that's changing communities, generating tax revenue, and giving Vermont consumers legal, regulated access to cannabis for the first time.

A Market Finding Its Footing

The first months of Vermont's recreational market were characterized by limited retail locations, uncertain supply chains, and steep prices. In the year since, things have changed considerably. More licensed retailers have opened across the state, inventory has deepened, and prices have come down as Vermont-licensed cultivators have scaled production.

The Vermont Cannabis Control Board has issued dozens of cultivation and retail licenses, and the pipeline of new dispensaries continues to grow. Consumers now have real choices — both between individual dispensaries and between the hundreds of products on offer at each location.

What Changed: Prices, Selection, and Accessibility

One of the most significant shifts has been in pricing. Early in Vermont's recreational market, eighth-ounce prices for premium flower regularly exceeded $60 or even $70. As supply caught up with demand and more cultivators came online, those prices have moderated to the $40–$60 range for premium indoor-grown flower, with more budget-friendly options available as well.

Selection has also expanded dramatically. Where early menus might have offered a few dozen SKUs, today's well-stocked Vermont dispensaries carry hundreds of products across flower, pre-rolls, edibles, concentrates, tinctures, and topicals. Local Vermont craft cultivators have emerged as a meaningful force in the market, bringing terroir-driven products that appeal to consumers who want to support local agriculture.

Tax Revenue: Where Is It Going?

Vermont's cannabis tax structure generates significant revenue. The 14% cannabis excise tax, combined with Vermont's 6% sales tax, means consumers pay approximately 20% in combined taxes on every cannabis purchase. According to the Vermont Department of Taxes, this revenue goes toward education funds, substance abuse treatment, and local governments.

The Vermont Legislature continues to debate the optimal allocation of cannabis tax revenue, with advocates pushing for increased funding for social equity programs and expungement of prior cannabis convictions.

Social Equity: Work Remains

Vermont's cannabis legalization has been hailed as a progressive step, but social equity advocates point out that the benefits of the legal market have not been distributed equally. Black Vermonters were historically arrested for cannabis offenses at far higher rates than white Vermonters despite similar use rates, yet the licensed cannabis industry today is predominantly white-owned.

The CCB has made efforts to address this through priority licensing for social equity applicants, but advocates say more structural change is needed. This will remain a key policy discussion as Vermont's cannabis industry matures.

Looking Ahead

Vermont's cannabis industry is expected to continue growing in 2024 and beyond. Delivery services are expanding, more cities and towns are opting into retail sales, and the range of licensed products continues to widen. For consumers in Burlington and across Vermont, this means more choices, better prices, and an increasingly sophisticated cannabis retail experience.