As the General Assembly prepares to hash out final details for legalized recreational use of cannabis in Maryland, lawmakers are learning more about the potential scale of the industry.

Cannabis Public Policy Consulting, a firm based in Massachusetts that tracks and analyzes cannabis data, estimates that cannabis sales from licensed dispensaries in the state could reach $1 billion within about two years.

Assuming lawmakers come to terms on the finer details of licensing, regulation and taxation of the industry, recreational cannabis use in Maryland would become legal on July 1, thanks to a referendum passed by voters in November by a 2-to-1 margin.

The estimate of $1 billion in sales by the 20th month after legalization comes from a November survey about cannabis consumption in the state. Although about 4,600 Marylanders were screened for the survey, slightly more than 2,100 people, from 413 of the state’s 468 zip codes, completed it.

In recent meetings, the House Cannabis Referendum and Legalization work group has been briefed on reports that cannabis sales could reach up to $72 billion nationwide in the next decade, discussed tax options and considered impacts on workplace safety

Legal recreational use in Maryland will be limited to adults. Specifically the law will permit a person 21 years and older to purchase and possess up to 1.5 ounces of cannabis. As of Jan. 1, possession of up to 2.5 ounces of cannabis is a civil offense.

It is already legal for buyers with...

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