Ohio is set to launch legal adult-use cannabis sales next month, and as the launch date approaches, Ohio’s medical cannabis program continues to see a drop in active patient registrations.
According to the Ohio Medical Marijuana Control Program, as of April 30th, 2024 the state had 167,153 “patients with both an active registration and an active recommendation.” Ohio released updated patient enrollment numbers on May 28th, and the active patient enrollment number dropped to 165,746 patients.
In September 2016 Ohio lawmakers passed House Bill 523 which legalized medical cannabis in Ohio. Earlier this year Ohio lowered medical cannabis patient registration fees to one penny.
According to initial reporting by Marijuana Moment, Ohio recreational sales are anticipated to generate between $276.2 million and $403.6 million in annual cannabis tax dollars within five years once they launch.
Total legal cannabis sales in the United States are expected to reach $31.4 billion in 2024 according to a recent analysis by Whitney Economics. Additionally, leading cannabis jobs platform Vangst, in conjunction with Whitney Economics, estimates that the legal cannabis industry now supports 440,445 full time-equivalent cannabis jobs in the United States.
Whitney Economics also projects the following legal cannabis sales figures in the United States for the coming years:
- 2024: $31.4 billion (9.1% growth from 2023)
- 2025: $35.2 billion (12.1% growth from 2024)
- 2030: $67.2 billion
- 2035: $87.0 billion
The emerging legal cannabis industry in the United States is projected to add roughly $112 billion to the nation’s economy in 2024 according to a newly released analysis by MJBiz Daily. The projection is part of the company’s 2024 MJBiz Factbook.
“The total U.S. economic impact generated by regulated marijuana sales could top $112.4 billion in 2024, about 12% more than last year,” MJBiz stated in its initial reporting.
The United States adult-use cannabis industry has generated over $20 billion in total tax revenue since the first legal recreational cannabis purchase was made in Colorado on January 1st, 2014 according to a new report by the Marijuana Policy Project.
“Through the first quarter of 2024, states have reported a combined total of more than $20 billion in tax revenue from legal, adult-use cannabis sales. In 2023 alone, legalization states generated more than $4 billion in cannabis tax revenue from adult-use sales, which is the most revenue generated by cannabis sales in a single year.” the Marijuana Policy project stated in a press release.