Ohio cannabis dispensaries with provisional dual-use licenses, which allow operators to conduct both medical and adult-use sales, sold more than $11.5 million worth of adult-use cannabis products during the first five days of legal sales, according to data from the Ohio Division of Cannabis Control.
The dual-use licenses were issued earlier this month and licensees were permitted to begin adult-use sales starting August 6. Five days later, cannabis retailers posted 138,466 receipts for the week totaling more than $11.5 million. Additionally, dispensaries sold about $1.9 million worth of medical cannabis products during the same time period, WKYC reports.
Kathleen Olivastro, the senior vice president of Ascend Wellness Holdings, said in a FOX 8 report the community has been enthusiastic about the launch of recreational sales.
“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, via FOX 8
The surge in sales suggests that Ohio’s total cannabis sales could reach nearly $1.3 billion for the year, Cannabis Business Times reported.
Ohio voters approved the state’s adult-use legalization policy in November 2023 and the policy took effect in December. Under the law, adults aged 21 and older are allowed to purchase and possess up to 2.5 ounces of cannabis and/or up to 15 grams of cannabis concentrate. Additionally, adults can home-grow up to six cannabis plants for personal use.
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