Ohio Adult-Use Market Gets Off To Fast Start
September 10, 2024In just over a month, Ohio’s adult-use cannabis market topped $50 million, including $44 million for August alone. The data, from the state’s Division of Cannabis Control and Department of Commerce, shows that Ohioans have purchased over 6,000 pounds of cannabis since adult-use sales began. In that first month, the state licensed 123 dispensaries to serve the adult-use market, including stores from leading cannabis companies including Cresco Labs, Green Thumb Industries, Trulieve, The Cannabist Company, and Verano.
Prior estimates mark Ohio’s cannabis market at over $500 million for the first year, if trends continue. As demand remains high, more businesses are entering the market, with 121 companies waiting for the state to approve their retail licenses. Last week, the state begin to issue provisional licenses to some of those businesses, meaning that the physical retail location can be prepared, ahead of final approval by the state.—Shane English
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