Ohio’s cannabis dispensaries with provisional dual-use licenses generated over $11.5 million in adult-use cannabis sales during the first five days of legalization, according to data from the Ohio Division of Cannabis Control. The dual-use licenses, which allow operators to conduct both medical and adult-use sales, were issued earlier this month, with adult-use sales beginning on August 6.
In just five days, Ohio’s cannabis retailers recorded 138,466 receipts, totaling more than $11.5 million in sales. During the same period, dispensaries also reported approximately $1.9 million in medical cannabis sales, according to WKYC.
The launch of adult-use sales has been met with enthusiasm from the community. Kathleen Olivastro, Senior Vice President of Ascend Wellness Holdings, highlighted the positive reception in an interview with FOX 8. “Since transitioning the first four of our stores, we’ve seen an initial revenue surge by at least three times previous sales and in some cases even higher multipliers. The excitement is palpable, and we look forward to watching this momentum continue to build as we serve our customers,” Olivastro said.
The strong start to Ohio’s adult-use cannabis market suggests the state could see total cannabis sales approach $1.3 billion for the year, as reported by Cannabis Business Times.
Ohio voters approved the state’s adult-use legalization policy in November 2023, with the law taking effect in December. The policy allows adults aged 21 and older to purchase and possess up to 2.5 ounces of cannabis and up to 15 grams of cannabis concentrate. Additionally, adults are permitted to home-grow up to six cannabis plants for personal use.
The early success of adult-use cannabis sales in Ohio marks a significant milestone for the state’s cannabis industry, indicating robust demand and paving the way for continued growth in the market.
For more updates on cannabis business news, subscribe to our daily newsletter.
