Since the launch of medical cannabis in Arkansas in 2019, more than three dozen storefronts have opened, at least 102,000 residents have registered for patient cards and revenue has topped $1.1 billion. The industry doesn't appear to be slowing down anytime soon.
The latest report from the Arkansas Department of Finance and Administration showed the state's 38 dispensaries sold nearly $45 million of products in February and March combined, bringing the year's revenue to an updated $68 million.
Compared to the end of March 2023, this year's sales are down by about $2 million — but more products have been sold in that time. This year's 17,240 pounds of product trumps the 13,804 pounds sold in 2023. "That's a reflection of the more competitive pricing, which is great news for patients," said Scott Hardin, spokesperson for the Department of Finance and Administration.
Medical cannabis first became available in mid-May 2019, following years of delays due to lawsuits and the Legislature in 2017 amending a voter-approved initiative from the previous year. The trajectory of the medical cannabis industry has been on a steady incline since and rather than shrink under the pressure of the COVID-19 pandemic, the industry thrived, Hardin said.
Read more at arktimes.com