Medical cannabis sales in Arkansas reached $23.7 million in August, totaling 4,245 pounds of product sold, KNWA/KFTA reports. The total pounds sold is a new record for the state, Scott Hardin, spokesperson for the Arkansas Department of Finance and Administration, told KNWA/KFTA.
“Since January 1, 2022, patients have spent $181 million to obtain 32,027 pounds. With $2.7 million in state tax revenue collected from medical marijuana in August, a total of $78.68 million has been collected since the industry launched in mid-2019.” — Hardin to KNWA/KFTA
In July, the state’s dispensaries sold $23.3 million worth of medical cannabis, led by Natural Relief Dispensary in Sherwood which also had the highest sales totals in August.
In all, there are 89,983 active medical cannabis patients in the state.
Last month, however, a lawsuit was filed that could doom the state’s medical cannabis industry. The lawsuit seeks to use the Racketeer Influenced and Corrupt Organizations Act, commonly known as RICO, to target medical cannabis company plaintiffs accused of deceptive trade practices. The lawsuit claims some medical cannabis was sold in Arkansas with a potency different from what was advertised – a deceptive trade practice – and that cannabis businesses are subject to RICO because cannabis is federally outlawed.
Adult-use advocates in August also submitted enough signatures to put a broad legalization question on November ballots; however, the state Board of Election Commissioners rejected the initiative’s popular name and ballot title, claiming it didn’t fully explain the constitutional amendment and that the measure would repeal the state’s current THC limit on medical cannabis products.
The Arkansas Supreme Court, however, is conditionally allowing the question to appear on November ballots although the court has not said whether or not it would allow the votes to count.
Get daily cannabis business news updates. Subscribe
End