Ohioans voted to legalize marijuana last November through Issue 2 and recreational sales started on August 6.
By Megan Henry, Ohio Capital Journal
Ohio recreational marijuana sales have topped $131 million in less than three months.
The state’s total recreational marijuana sales were $131,813,130 as of October 26, according to the Ohio Department of Commerce Division of Cannabis Control (DCC). Ohio has a 10 percent tax at the point of sales for every non-medical marijuana transaction.
Ohioans voted to legalize marijuana last November through Issue 2 and recreational sales started on August 6. Under Ohio law, customers 21 and older can buy up to 2.5 ounces of recreational marijuana at dispensaries.
An Ohio Ohio State University Drug Enforcement and Policy Center study from August 2023 estimated the potential annual tax revenue from legalizing marijuana under Issue 2 ranges from $276 million to $403 million in the fifth year of an operational cannabis market.
Issue 2 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 division of cannabis control and tax commissioner fund.
There have been 16,254 pounds of recreational plant material sold and 2,094,864 units of manufactured products, according to the DCC. The average price of manufactured sales was $29.21 the week of October 20–26, according to DCC.
There are 124 dual-use marijuana dispensaries in Ohio, meaning they are authorized to sell both recreational and medical marijuana.
More than 100 Ohio cities or townships have passed moratoriums banning the sales of recreational marijuana sales as of October 22, according to Ohio State University’s Moritz College of Law. Some of the moratoriums are set to expire later this year or next, but several of them are indefinite.
Legalizing marijuana also authorized home grow for Ohioans 21 and older with a limit of six plants per person and 12 plants per residence.
This story was first published by Ohio Capital Journal.
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