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Emerging Trends and Milestones in the Cannabis Industry: Sales Figures, Nationwide Lending, Legalization, and Regulatory Updates

The cannabis industry continues to experience significant developments and growth across various states in the United States. In this blog post, we’ll delve into some of the latest updates and noteworthy events in the cannabis landscape, highlighting key milestones and emerging trends. We will provide you with insights into the recent sales figures in Arkansas, the expansion of lending services for cannabis real estate nationwide, Minnesota’s historic decision to legalize recreational marijuana, the release of the FY22 MMJ Annual Report in Arkansas, and the appointment of new members to the Medical Marijuana Oversight Committee. Additionally, we’ll explore the complexities surrounding the permit renewal for a cultivator in Fort Smith, Arkansas, amidst an ongoing legal dispute. 


  1. April 2023 Sales Update: April proved to be an impressive month for medical marijuana sales in Arkansas. Patients spent approximately $24 million to purchase 5,043 pounds of medical marijuana. Suite 443 in Hot Springs emerged as the top-selling dispensary, selling 537 pounds, closely followed by Natural Relief Dispensary in Sherwood, with 477 pounds sold. These sales contributed to a cumulative total of $94 million spent by patients on 18,847 pounds of medical marijuana in the first four months of 2023. The Arkansas Department of Health also reported a record high of 94,282 active patient cards. Find out more about these sales figures in the chart below.

  2. Now Lending on Cannabis Real Estate Nationwide: Safe Harbor Financial, the leading provider of cannabis financial services, has expanded its lending services to include owners and operators of cannabis dispensaries, cultivation facilities, and other real estate across the country. This move follows Safe Harbor Financial’s acquisition of Abaca, a North Little Rock-based company, in late 2022. With this expansion, Safe Harbor Financial aims to support the growth of the cannabis industry and facilitate the development of cannabis-related properties. Read the full story here.
  3. Minnesota Goes Recreational: Minnesota Governor Tim Walz is set to sign a bill legalizing recreational marijuana in the state, making Minnesota the 18th state in the U.S. to do so. This historic decision will bring significant economic benefits, generate tax revenue, and create new job opportunities. Moreover, the bill includes provisions to address past convictions related to cannabis, aiming to rectify the injustices caused by the war on drugs. Discover more about this groundbreaking development here.
  4. FY22 MMJ Annual Report: The Arkansas Department of Health and Arkansas Department of Finance and Administration have released the comprehensive 2022 Fiscal Year Report. This report covers the period from July 1, 2021, to June 30, 2022, providing valuable insights into the medical marijuana program’s progress and its impact on the state. Dive into the report for a detailed analysis of the industry’s performance and key takeaways.
  5. Arkansas State Legislature Appoints New Medical Marijuana Oversight Committee Members: The Arkansas State Legislature has appointed new members to the Medical Marijuana Oversight Committee. These committee members play a vital role in overseeing and regulating the state’s medical marijuana program. To learn more about the new committee members and their responsibilities, check out the article here.
  6. Arkansas Medical Marijuana Commission Renews Permit for Fort Smith Cultivator: The state Medical Marijuana Commission has renewed the license of River Valley Relief Cultivation in Fort Smith, despite an ongoing legal dispute. The Arkansas Supreme Court’s intervention and the commission’s decision have added further complexity to this issue. Find out more about this development and the implications it may have here.


In conclusion, the recent developments in the cannabis industry showed its rapid growth and increasing acceptance. From the impressive sales figures in Arkansas to the nationwide expansion of lending services for cannabis real estate, the industry is attracting significant attention and investment. Minnesota’s decision to legalize recreational marijuana and the release of the FY22 MMJ Annual Report in Arkansas demonstrate the economic benefits and progress associated with cannabis legalization. However, the complexities surrounding permit renewals and legal disputes also remind us of the challenges that can arise. Overall, the cannabis industry continues to evolve, offering economic opportunities, tax revenue, and job creation, making it an exciting time for industry professionals and consumers alike. Stay tuned for more updates as we witness the ongoing transformation of the cannabis landscape.