Arkansas’ medical marijuana sales in 2024 were down more than 2% compared to record sales in 2023, but the pounds sold were up more than 20%, according to figures posted Wednesday (Feb. 5) by the Arkansas Department Finance and Administration (DFA).
The state had $275.9 million in medical marijuana sales in 2024, down 2.5% compared with 2023, according to the DFA. The 2024 numbers were up 51.7% compared with 2010, which was the first full year of medical marijuana sales in the state.
Pounds sold by the state’s 37 licensed dispensaries in 2024 reached 75,598, up 21.5% compared with 62,227 pounds in 2023, the DFA reported.
“Overall, more than $1.3 billion has been spent at the state’s dispensaries since the industry launched in 2019,” said DFA spokesman Scott Hardin. “Patients are spending an average of $756,000 a day across the state’s 37 dispensaries, and we expect that will continue throughout 2025. State tax revenue from medical marijuana has surpassed $30 million for the past three years.”
Total tax revenue from 2024 medical marijuana sales was $31.17 million, just above the $31.089 million in 2023.
“State tax revenue from medical marijuana surpassed $31 million in 2024. The 6.5% state sales tax generated $15.97 million while the 4.0% privilege tax totaled $15.19 million. Both taxes apply to purchases made at dispensaries while only the 4.0% applies when a cultivator sells product to a dispensary,” the DFA noted in its report.
The number of licensed medical marijuana patients as of Feb. 1, 2025, was 109,476, up 12.4% compared with the 97,374 to begin 2024.
Arkansas medical marijuana sales set a new record in 2023 with a 2.53% increase over 2022. Following are the annual sales since 2019.
2024: $275.9 million
2023: $283 million
2022: $276.3 million
2021: $264.9 million
2020: $181.8 million
2019: $31.32 million
The constitutional amendment legalizing medical marijuana for 17 qualifying conditions and creating a state medical marijuana commission was approved by Arkansas voters 53% to 47% in November 2016.
