Ohio’s Cannabis Market Expansion in 2024

LOS ANGELES- In 2024, Ohio’s legal cannabis market achieved sales exceeding $675 million, marking a 40% increase from the previous year’s $484 million. This growth is attributed to the commencement of adult-use cannabis sales in August 2024.

The total sales comprised approximately $433 million from medical cannabis and $242 million from recreational cannabis. Despite this expansion, industry stakeholders had anticipated a more robust market performance.

Ohio’s entry into the adult-use cannabis market in August 2024 positioned it as the sole state to launch such a program that year. This development reflects a broader national trend toward cannabis legalization and the establishment of regulated markets.

The state’s Division of Cannabis Control reported that, as of December 14, 2024, licensed cannabis retailers had conducted over 20 million transactions, with total sales surpassing $2.2 billion since the inception of legal cannabis in Ohio.

These figures underscore the significant economic impact of the cannabis industry in Ohio, highlighting its role as a substantial contributor to the state’s economy.