Arkansas medical cannabis sales set to surpass $270M

The people of Arkansas spent $23.2 million on medical cannabis in July, Arkansas Democrat-Gazette reports. According to the Department of Finance and Administration, such recent spending is set to surpass the state’s record sales from last year. Scott Hardin, a spokesman for the Department of Finance, said July’s sales numbers demonstrate that Arkansas will exceed 2022’s record medical marijuana sales, which reached $270 million.

Arkansas medical marijuana patients spent $164.6 million on cannabis from January to July of 2023, which marks a $7.3 million increase from the first seven months of 2022. That figure accounts for a whopping 5,157 pounds of bud, bringing the year’s total to 34,214.

“If sales remain consistent for the next several months, we will complete 2023 with total sales reaching more than $280 million,” Hardin shared in a news release. “The state collected $2.5 million in tax revenue from medical marijuana in July. This brings total medical marijuana tax revenue in 2023 to $18.5 million, and $108 million since the first dispensary opened in May 2019.”

July came in fifth in 2023 for sales compared with other months, showing that even an impressive $23.2 million isn’t the biggest figure Arkansas can brag about. The highest-earning month of the year is March, which raked in $25 million worth of sales. The state’s lowest earning month of the year still comes in at $22.4 million, Hardin shares. 

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