The average price for an ounce of flower was $266 last week.
By Megan Henry, Ohio Capital Journal
In less than a week, legal marijuana sales in Ohio exceeded $11.5 million.
According to the Ohio Department of Commerce’s Cannabis Control Division, the state’s total marijuana sales as of Aug. 10 were $11,530,708. Sales began Aug. 6 – eight months after 57 percent of Ohioans voted to legalize recreational marijuana. The average price for an ounce of flower was $266 last week, according to the division.
According to the department, 173,043 units of the manufacturer’s product and 1,285 pounds of plant material were sold.
As of Wednesday, there are 120 dual-use dispensaries in Ohio that can sell both medical and non-medical marijuana, according to the department. When recreational sales began, there were 98 dual-use dispensaries in Ohio.
According to Ohio State University’s Moritz College of Law, more than 70 cities in Ohio have local moratoriums prohibiting the sale of cannabis for recreational use.
Under Ohio’s ballot measure to legalize marijuana, a 10 percent point-of-sale tax will be levied on each sale of non-medical marijuana.
The ballot proposal created five funds in the state treasury: the Adult Use Tax Fund, the Cannabis Social Equity and Jobs Fund, the Host Community Cannabis Fund, the Substance Abuse and Addiction Fund, and the Cannabis Control and Tax Commissioner’s Department Fund.
According to the National Conference of State Legislatures, 24 states, two territories and the District of Columbia have legalized marijuana for recreational use.
When recreational marijuana sales began in Michigan in 2019, $1.6 million worth of recreational marijuana was sold in the state’s five stores open in the first eight days of sales, according to the Detroit Free Press.
According to CNN, Illinois’ 37 dispensaries generated nearly $11 million in recreational sales in the first week of 2020.
This story was first published in the Ohio Capital Journal.
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