Arkansas Reports Positive Data in Medical Marijuana Sales
Arkansas has collected at least $34 million in taxes since the first medical marijuana dispensary opened in May 2019.
Business

Arkansas Medical Marijuana Program Reports over $500 Million in Sales

Arkansas has collected at least $34 million in taxes since the first medical marijuana dispensary opened in May 2019.
Business

Arkansas Medical Marijuana Program Reports over $500 Million in Sales

PUBLISHED
Jan 10, 2022
read time 2 MIN
SPRED IT

The Arkansas Department of Finance and Administration released a report regarding the progress of the state’s medical-marijuana program, which has surpassed $500 million in sales.

The state currently has 37 licensed medical cannabis dispensaries, according to a report by Fox 16. The 37 dispensaries have sold over 40,000 pounds of medical marijuana. The state is divided into eight medical marijuana dispensary zones overseen by the Arkansas Medical Marijuana Commission.

The Arkansas Medical Marijuana Commission is responsible for administering and overseeing business licensing for medical marijuana dispensaries and cultivation facilities. 

To purchase medical marijuana, Arkansas residents must apply for a medical card. There are currently more than 19,000 Arkansas residents with active medical marijuana cards.

Arkansas residents have to be at least 18 years old, have an official written certification document, and have one or more qualifying medical conditions to qualify for a medical card. Once they meet the conditions, official Arkansas residents will have to pay a fee to receive their medical cards.

Arkansas has collected at least $34 million in taxes since the first medical marijuana dispensary opened in May 2019. 

Last September, the Arkansas Department of Finance and Administration reported that state residents spent a combined $33 million on medical marijuana between mid-July through August of last year. The report also stated that Arkansans had spent approximately $260 million on medical marijuana.

The reported numbers highlight the early success of the state’s medical-marijuana program, especially since the price of medical cannabis in the state increases as demands for it rises.

Despite the success in sales, the state has had a few inconveniences early on. Arkansas’ medical marijuana industry experienced an issue with losing track of its cannabis inventory due to a faulty system

Arkansas voters approved Amendment 98, which legalized medical marijuana in 2016. Since its inception, more people have enjoyed their favorite strains kept in child-resistant containers

The state’s medical marijuana oversight committee meets once a month, with their next meeting scheduled on January 13. A link to view the meeting’s stream is available on the Medical Marijuana Commission’s website

SPRED IT
Join The Conversation
{
0 comments
}

Got a tip for the team? We'd like to hear it!
Email:

*All comments are moderated before being published


TAGS
Amendment 98
Arkansas
Arkansas department of finance and administration
Arkansas medical marijuana commission
Banking & finance
Business
Legalization
Marijuana companies
Medical marijuana cards
State by state
Top Articles
Explore More >
Explore More >
>>>>>