Illinois Marijuana Stores Have Now Sold More Than Half A Billion Dollars Worth Of Cannabis Products, State Announces

MJ moment

For the sixth month in a row, Illinois has hit yet another marijuana sales record, and it has reached the key benchmark of half a million dollars worth of legal cannabis products being purchased since the launch of the program at the beginning of this year. The state seems to have truly demonstrated that, as a top regulator put it in August, its cannabis market is “recession-proof” and “pandemic-proof.” Adults purchased 1,557,880 marijuana products in October, worth a total of $75,278,200. That’s about $8 million more in sales compared to September and almost double the first month of sales in January. The new adult-use sales figures don’t include data about purchases made through the state’s medical cannabis program. About $55 million in purchases came from in-state buyers, while nearly $21 million came from out-of-state tourists. Via IDFPR. All told, legal cannabis sales have now crossed the $500 million mark since the start of the year. While it might not make up for all the economic costs associated with the coronavirus pandemic and resulting social distancing mandates, the sales figures do translate into tax dollars for the state. Illinois announced last month that it had hit a marijuana tax milestone, exceeding…

Excerpt only …
READ MORE BELOW
Source : Illinois Marijuana Stores Have Now Sold More Than Half A Billion Dollars Worth Of Cannabis Products, State Announces

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.