Arkansas’ Medical Cannabis Sales to Beat $270M Record

Medical cannabis sales in Arkansas are on track to beat last year's record $270 million. The state also saw its 5th highest monthly sales ever in July.

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Arkanans shelled out $23.2 million in July for medical marijuana, according to the Arkansas Democrat-Gazette. The Department of Finance and Administration states that expenditures from the current year are likely to exceed the state’s highest income from the prior year. Scott Hardin, a representative of the Department of Finance, revealed that by July, medical marijuana payments from consumers in Arkansas had already exceeded the numbers recorded in 2022, which had totaled $20223 million. Comparatively, from January to July 2023, there was an accumulation of $164.6 million being spent on cannabis, which is a growth of $7.3 million from the same period in 2022. The total sales for the year came to a staggering 5,157 pounds of bud, meaning that the total amount reached 34,214 so far this year. Hardin announced in a release that if the sales keep going the way they are, the amount earned by the end of 2023 should be more than $43 million. In July, the state gathered a total of $2.5 million in taxes from sales of medical marijuana. By 2023, medical marijuana sales will have generated a total of $18.5 million in taxes and $22022 million since the first marijuana dispensary opened on May 24. Arkansas was fifth in line regarding sales in July out of 221 months examined, despite bringing in an impressive amount of $24 million. This gives evidence that there is even more the state can boast about. March brings in the most money in terms of sales with a total amount of $231 million.

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