New Jersey state officials announced this week that purchases of recreational cannabis hit $24 million in the first month of sales, despite only a dozen stores being licensed to sell adult-use cannabis. The New Jersey Cannabis Regulatory Commission, the state’s marijuana regulatory agency, also revealed on Tuesday that six more dispensaries will be authorized to sell recreational cannabis soon, increasing the number of retailers statewide by half.

“It’s really only a beginning, and I think it shows that there’s a lot of growth left in this market,” said Jeff Brown, the commission’s executive director.

New Jersey voters approved a referendum to legalize recreational cannabis in 2020, and state lawmakers approved legislation to regulate the state’s adult-use market in August 2021. On April 11, the commission announced that it had authorized seven companies to begin sales of recreational pot at a total of 13 dispensaries. On April 21, sales began at 12 of the locations, with the last launching adult-use cannabis about two weeks later.

At a meeting of the commission on Tuesday, officials said that the first month’s sales total of $24 million will surely increase as more licensed businesses begin operations.

“We do anticipate that this will ramp particularly as new dispensaries are approved, new cultivators are approved, and a lot of the conditional applicants that we have approved are able to come back and convert to annual licenses and begin operating,” Brown said.

Retail Pot Market Just Getting Started

Sharon Ali, Mid-Atlantic regional general manager at multi-state cannabis cultivator and retailer Acreage Holdings, agreed that New Jersey’s legal recreational weed market is just getting started.

“With only twelve operational adult-use dispensaries open, New Jersey has already seen $24 million in sales—a strong indicator of incredible potential as more adult-use retailers are approved,” Ali wrote in an email to High Times. “At the current rate of adult-use demand, we project to almost double our store traffic per month.”

Considering that New Jersey adult-use sales are projected to reach $2.4 billion by 2026, we know that this is only the beginning,” Ali continued. “To accommodate this increase in foot traffic, The Botanist in Williamstown and Egg Harbor Township have both proactively hired talent and anticipate increasing staff by 25%. We are excited to see labor and economic opportunities take off in New Jersey as we enter a new era of cannabis legalization.”

Jane Technologies, a cannabis e-commerce platform, reported that cannabis flower generated 49% of New Jersey’s recreational pot sales between April 21 and May 21, while 10% of sales were rung up for pre-rolled joints. On the day of launch, adult-use cannabis accounted for 86% of the state’s total pot sales, with only 14% going to medicinal cannabis.

Cannabis market data analyst Headset reported that based on the first week of sales in the Garden State and data from other states, New Jersey’s total annual cannabis market size is estimated to be worth between $1.3 billion and $2.9 billion.

New Dispensary Licenses Approved in New Jersey

The Cannabis Control Commission also reported on Tuesday that it had approved new licenses for cannabis businesses, including authorization for six dispensaries to begin sales of recreational weed soon. Regulators issued approval for three stores to be operated by Ayr Wellness, and one each for Ascend and TerrAscend.

“We are thrilled to be approved for adult-use sales in New Jersey and to have all three dispensaries cleared simultaneously to open for adult-use,” Jonathan Sandelman, founder and CEO of Ayr, said in a statement from the company. “To date, Central Jersey has the lowest number of dispensaries per capita, leaving its population under-served compared with the rest of the state. New Jersey is expected to become a highly influential state for the U.S. cannabis industry, and we are honored to help shape the market landscape from its early stages.”

The commission also approved licenses for 46 smaller cannabis cultivators, retailers, and manufacturers, bringing the total of such enterprises approved by New Jersey regulators in recent months to 148. Most of the businesses, however, will take up to a year or more to begin operations.

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The medical cannabis program in Ohio has generated about $725 million in revenue, according to a local news report.

The figure was noted by local television station WKYC, which cited the state’s Department of Commerce Medical Marijuana Control Program.

Ohio lawmakers passed a measure legalizing medical cannabis in 2016, but sales did not begin until three years later. 

“Ohio’s program has matured pretty quickly,” said Kate Nelson, regional general manager for Acreage Holdings, a cannabis operator, as quoted by WKYC. “I’m very impressed at how much it’s grown as far as patient access goes, recommending physicians and products available.”

The Buckeye State’s medical cannabis law covers a wide range of qualifying conditions: AIDS, amyotrophic lateral sclerosis, Alzheimer’s disease, cachexia, cancer, chronic traumatic encephalopathy, Crohn’s disease, epilepsy or another seizure disorder, fibromyalgia, glaucoma, hepatitis C, Huntington’s disease, inflammatory bowel disease, multiple sclerosis, pain that is either chronic and severe or intractable, Parkinson’s disease, positive status for HIV, post-traumatic stress disorder, sickle cell anemia, Spasticity, spinal cord disease or injury, terminal illness, Tourette syndrome, traumatic brain injury and ulcerative colitis.

Currently, there is an effort underway to add autism to that list of qualifying conditions. 

A bill that would permit patients with autism to receive medical cannabis treatment was introduced by a Republican and Democrat in the Ohio state House, and passed out of the chamber earlier this month by a vote of 73-13.

“This bill is a direct result of the needs and wants of the people of Ohio who are on the autism spectrum,” said Democratic state House Representative Juanita Brent, a co-sponsor of the proposal. “It will help ensure legal access to a plant-based solution free from costly prescription medications or other outdated and sometimes harmful treatments.”

A different bill introduced by a Republican state senator would open up the medical cannabis program even more, allowing physicians to “recommend marijuana for treatment for any condition if the physician, in the physician’s sole discretion and medical opinion, finds either of the following: that the patient’s symptoms may reasonably be expected to be relieved from medical marijuana” and “that the patient may otherwise reasonably be expected to benefit from medical marijuana.”

Either bill would represent the most significant change to the state’s medical cannabis program since it launched.

Those aren’t the only cannabis reform efforts afoot in Ohio. A group called the Campaign to Regulate Marijuana Like Alcohol spearheaded a petition effort in the hopes of forcing Ohio lawmakers to act on a legalization bill.

The group submitted roughly 136,000 verified signatures from registered voters in January, which under Ohio state law, triggered a four-month window for legislators to consider the proposal. 

Republican lawmakers have thus far shown an unwillingness to take up the proposal, which brings the group to a Plan B scenario: after collecting another roughly 133,000 valid signatures or so, the legalization proposal could be brought to the Ohio ballot this November.

“We continue to be hopeful that the legislature will act on what we think is an issue that’s popular among Ohio voters,” said Tom Haren, a spokesman for the Coalition to Regulate Marijuana Like Alcohol, as quoted by WKYC. “From our standpoint, it’s really about just recognizing the reality and about removing the criminal penalties for conduct that, you know, thousands of Ohioans are already engaging in.”

In February, Republican Matt Huffman, the president of the Ohio state Senate, did not mince words when asked about the proposal’s chances in his chamber.

“I don’t want anybody to misunderstand my position,” Huffman said. “I’m not going to bring it to the Senate floor. And if that means people want to go put it on the ballot, have at it.”

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