Ohio’s Division of Cannabis Control recently issued the state’s initial sales licenses, enabling 98 dispensaries to serve both recreational and medical customers. Market analysts project that the cannabis sales in Ohio could reach between US$1.5 billion to US$2 billion in the first year and potentially escalate to US$3.5 billion to US$4 billion by the fourth year.
Various Canadian companies, including Ascend Wellness, The Cannabis Company, Acreage Holdings, AYR Wellness, Trulieve, and Cresco Labs, have a presence in Ohio and are poised to benefit from this emerging market. The legalization of recreational sales in Ohio, following a favorable vote, allows individuals aged 21 and above to possess specified quantities of cannabis products.
The state’s cannabis market is estimated to generate substantial revenue in the coming years, with optimistic projections from industry sources suggesting significant growth potential. Several Canadian cannabis stocks have highlighted the advantages of their operations in Ohio, such as expanding customer base and revenue opportunities.
Furthermore, additional dispensaries have applied for dual-use licenses in Ohio, awaiting regulatory approval to commence operations. Investors and stakeholders can explore further discussions and insights on these cannabis stocks through designated platforms and forums. It is essential to note that the information provided is for informational purposes only and not intended as investment advice.
