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US (AR): Industry professionals reflect on five years of MMJ in state

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

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