Ohio’s recreational cannabis market has experienced a remarkable rise since its official rollout in August 2024. In less than four months, the state has accumulated over $143 million in recreational sales, according to the Ohio Department of Commerce Division of Cannabis Control (DCC).
This rapid growth is powered by the high demand and economic potential of legal cannabis in the Buckeye State.
Strong Launch And Steady Demand
Following Ohio voters’ approval of Issue 2 in 2023, the cannabis market opened with high expectations, allowing adults 21 and over to purchase cannabis products at licensed shops.
Dispensaries across Ohio reported an immediate influx of new customers, with demand remaining strong in major cities like Columbus and Cleveland.
Initial sales data reflects this enthusiasm, with the first month (August) alone generating over $44 million in sales.
The momentum continued as monthly sales figures climbed steadily.
September 2024 recorded nearly $54.7 million, while October sales surged to $76.3 million. By November, cumulative sales reached $143 million, underscoring the market’s exponential growth. Growth between October and November reached an astonishing 47%.
This steady increase is expected to contribute significantly to Ohio’s tax revenue, supported by the state’s 10% tax on recreational cannabis purchases.
This story was published by Benzinga