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It’s been nine months since Ohioans voted to legalize adult-use marijuana. While the law went into effect in December 2023, retail sales remained on hold due to regulatory requirements and a few political skirmishes.
Medical marijuana dispensaries across Ohio learned that they will receive certificates of operation allowing them to open for recreational cannabis consumers on Tuesday, August 6, provided they tick a few final boxes, reported several news outlets.
Ohio's Division of Cannabis Control (DCC) announced in a statement Friday that it intends to issue the first dual-use certificates allowing some existing medical marijuana shops to begin the first recreational weed sales. While the DCC statement offered few details, it promised more to come.
“There will be no sales over the weekend,” said Jamie Crawford, a spokesman for the division. “We will provide a formal announcement on Monday.”
"We are stepping into a new future for Ohio where citizens will have access to safe products and communities will feel the benefits of this growing industry through tax revenue and job opportunities," said Tom Haren, spokesperson for the Ohio Cannabis Coalition.
The announcement came several weeks after the DCC gave preliminary approval to medical marijuana dispensaries, growers and processors seeking to enter the adult-use market.
Florida-based Trulieve (CSE:TRUL) (OTCQX:TCNNF) sent out a press release Friday afternoon saying it would begin sales on Tuesday, August 6, so we're assuming they also got the news.
“We are excited to be among the first group of operators to launch adult use sales in Ohio following a successful ballot initiative last year,” said Trulieve’s CEO Kim Rivers. “We are committed to maintaining excellent service standards for our existing medical patients while welcoming new adult use customers to our dispensaries.”
And did we mention that Ohio’s weed industry could generate $1 billion annually by serving its estimated one million monthly users while also creating 3,300 full time jobs in the first year?
An Ohio State University analysis suggested that legal cannabis could potentially generate between $276.2 million and $403.6 million in annual tax revenue.
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