Of the potential markets left untapped in America's legal marijuana industry, The South is the biggest of them all. A collective 125.5 million people live in the Southern United States, and only a fraction of them have access to medical marijuana. None of those 125.5 million Americans have access to recreational or adult-use marijuana.

That’s 38 percent of the country, a vast market for cannabis entrepreneurs. But social conservatism and a reluctance to change marijuana policy have kept this market from getting developed. That could change soon.

A recent surge in sales brought Arkansas’ nearly-year-old medical marijuana industry over the $50 million threshold.

The milestone comes after what local television station KATV described Monday as a “significant increase in sales last week.” Since the state’s first medical cannabis dispensary opened its doors last year, patients have spent $50.7 million on 7,932 pounds worth of medical marijuana, according to the outlet.

This year has been momentous for cannabis reform, from the Illinois General Assembly becoming the first state legislature to pass a bill to regulate cannabis like alcohol to the U.S. House of Representatives passing the SAFE Banking Act and forging ahead with the MORE Act. 

It’s important to celebrate these victories, but with the end of 2019 comes the beginning of 2020, which is already shaping up to be the biggest year ever for marijuana-policy reform. 

Arkansas may consider revoking medical marijuana licenses for dispensaries that aren’t open by June, officials said.

More than 3,000 pounds of medical marijuana has been sold in Arkansas since the first dispensary opened May 10 in Hot Springs, according to a news release.

Patients have spent a total of $21.35 million to obtain 3,098 pounds of medical marijuana, the release states.

The Releaf Center in Bentonville opened Wednesday, Aug. 7. The company has sold a total of 375.52 pounds of medical marijuana.

Eight days later, The Source opened in Bentonville, and since, the company has sold a total of 279.46 pounds of medical marijuana.

Acanza in Fayetteville opened Saturday, Sept. 14. A total of 259.49 pounds of medical marijuana have been sold since.

Law enforcement authorities across the country, including the FBI, have cast a wide net in their efforts to root out corruption among local government officials overseeing the marijuana industry.

The crackdown has ensnared local government and cannabis industry officials in states such as California, Massachusetts and Michigan. Charges have included bribery and extortion.

While claims of licensing bias and flawed scoring are more common, an examination of the landscape suggests that there have been a number of blatant efforts over the years to improperly influence public officials into awarding highly coveted marijuana licenses.

The numbers 11 and 33 come up quite often when the topic of marijuana legalization is discussed. Currently, 11 U.S. states allow the legal use of recreational marijuana, while 33 states have legalized medical cannabis. But those numbers could soon change.

Nine states could be on track to hold key votes on some form of marijuana legalization in 2020. Here are the states that could be next on the marijuana map -- and the stocks that could be poised to profit the most.

Medical marijuana sales in Arkansas have reached more than $6 million since the first sales May 10.

A report from the Department of Finance and Administration:

 Since Doctor’s Orders (Hot Springs) first opened on Friday, May 10, the company sold a total of 114.32 pounds of medical marijuana.

 

Since Green Springs Medical (Hot Springs) first opened on Sunday, May 12, the company sold a total of 374.96 pounds of medical marijuana.

 

 Since Arkansas Natural Products (Clinton) first opened on Thursday, June 20, the company sold a total of 69.56 pounds of medical marijuana.

 

 Since Greenlight Dispensary (Helena) first opened on Thursday, June 27, the company sold a total of 35.85 pounds of medical marijuana.

 

In the 82 days since medical marijuana sales began in Arkansas, the six open dispensaries have sold a total of 574 pounds of marijuana, earning a total of $4.01 million, the Department of Finance and Administration announced today. (That averages, I think, to nearly $49,000 a day, but check my math.)

Here’s the rundown by most product sold (though not averaged over days open):

Green Springs Medical, opened May 12, Hot Springs, 305.15 pounds.

Doctors Order’s, opened May 10, Hot Springs, 104.25 pounds

Native Green Wellness, opened July 2, Hensley, 64.40 pounds

Arkansas Natural Products, opened June 20, Clinton, 48.89 pounds

Fiddler’s Green, opened July 11, Mountain View, 26.50 pounds