Arkansas Medical Cannabis Market Generates $33M in Six Weeks

From mid-July through August, Arkansans spent $33 million to purchase 5,038 pounds of medical cannabis at dispensaries in the state, an increase of $6.5 million in sales compared to earlier figures.

Full story after the jump.

Over six weeks, Arkansas spent $33 million on medical cannabis, according to the Department of Finance and Administration (DFA) data outlined by KTLO. The state’s first dispensary opened in mid-2019 and total sales through Labor Day are expected to cross the $400 million mark.

From mid-July through August, Arkansans spent $33 million to purchase 5,038 pounds of cannabis at dispensaries in the statean increase of $6.5 million in sales compared to figures from mid-July, when Arkansas patients spent $26.5 million on 3,924 pounds of medical cannabis.

There are currently 36 dispensaries operating throughout Arkansas, with two more working toward opening, the report says.

The Releaf Center in Bentonville was the first dispensary in the state to reach 6,000 pounds of medical cannabis sales, reporting 6,256 pounds of medical cannabis sales since opening in August 2019. In all, 17 of the state’s dispensaries have sold at least 1,000 pounds of cannabis.

In July, cannabis advocates in the state began gathering signatures to put an adult-use legalization question to voters during next year’s midterm election. The proposal would allow cannabis use and possession by adults 21-and-older, allow sales through licensed retailers, allow for expungement of all cannabis crimes that would be legal under the amendment, and permits adults to cultivate up to 12 plants in their homes.

In a July interview with 40/29 News, Jesse Raphael, a representative for Arkansas True Grass, noted that “while Arkansas does have a great medical marijuana program, it does have shortcomings.”

“It doesn’t allow for the patients to grow and the medicine itself is very expensive,” she said at the time.

The campaign faces a deadline of July 2022 to get the issue on next year’s ballots.

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