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Arkansas Medical Cannabis Sales Exceed $50 Million

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Medical cannabis sales in Arkansas show that toilet paper isn’t the only thing concerned residents were seriously stocking up on cannabis.

According to Arkansas Business, medical cannabis sales in the state have passed the $50 million marker, as seen through recent polls. A new dispensary opened in the city of Alexander and another is set to open in Sherwood, so the industry is also growing steadily in response to the demand. “Following a significant increase in sales beginning mid-last week, overall sales surpassed $50 million over the weekend,” said Scott Hardin, spokesman for the Arkansas Department of Finance & Administration, a group that currently oversees the medical cannabis industry through its Alcoholic Beverage Control Division.

Natural State Medical Group, an organization led by Zada and Dr. James Adametz, opened its dispensary in Alexander under the brand Custom Cannabis March 12, and the state has already approved the opening of Natural Relief Dispensary in Sherwood. The opening of these spots will help to quell some of the growing demand. “Since the first dispensary opened in May 2019, patients have spent $50.7 million on 7,932 pounds of medical marijuana,” Hardin said.

Twenty dispensaries are currently operating in the state now, with 13 more that are working toward opening in the coming months. The Arkansas Medical Marijuana Commission is currently discussing whether or not they should renew licenses for certain dispensaries and growers, specifically because it has taken some more time to get things ready.

Arkansas has already been collecting profits via medical cannabis sales, and recreational cannabis sale amendments are proposed for the 2020 ballot. The state’s medical cannabis system has only been up and running since mid-May of last year (approximately 300 days), and already it has been successful beyond prediction. As cannabis patients continue to self-isolate in the wake of coronavirus, and seek out an alternative form of medicine, cannabis medical revenue numbers continue to rise.