Medical Marijuana Sales Reach New Heights In Southern State, But Future Growth Remains Uncertain: Here's Why

The people of Arkansans bought $22.5 million worth of medical cannabis products in October, slightly less than in the same month of 2022, reported Green Market Report citing data released on Monday by the state’s Department of Finance and Administration.

Either way, Arkansas's medical marijuana program seems to be on pace to set a new sales record this year, with dispensaries statewide having sold $234 million between January and October, compared to $228.4 million reported during the corresponding period of last year. Simultaneously, the number of active medical marijuana patient cards climbed to 97,646 from 89,855 in January.

The tax earnings from medical marijuana sales in the Bear State have reached $25.9 million in 2023, bringing it to a sum of over $115.35 million since 2019.

The legalization of recreational marijuana for adults (Issue 4) was on the Arkansas general election ballot in November of 2022. The initiative failed to pass, with a majority of people voting against it.

Rhode Island Rec Sales Outpace MMJ Purchases

In October, medical marijuana stores in the Ocean State sold $2.3 million worth of products, representing a drop from $3.9 million cannabis products sold in December 2022, writes The Providence Journal.

On the contrary, adult-use cannabis sales have been steadily increasing statewide, month by month, following its launch on Dec. 1, 2022.

In October, Rhode Islanders spent $7 million in adult-use purchases, writes The Providence Journal, slightly less than in September and a record $7.1 million spent on marijuana statewide.

However, over the past eleven months, the monthly revenue generated by medical marijuana saw a decline from $3.9 million in December to a record low of $2.3 million in October, even though medical cannabis patients enjoy a 13% tax reduction.

Erica Ferrelli, chief of strategic planning, monitoring and evaluation at the Rhode Island Office of Cannabis Regulation shed light on what to expect in months to come.

“I think time will tell,” Ferrelli said. “I think the numbers are good. They are going up every month, if not staying at a nice level over the past five months. I think it’s a little too early to double down on whether the numbers will continue to increase.”

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