Illinois Adult-Use Marijuana Sales Exceed $100 Million For Sixth Month In A Row, State Data Shows

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Adult-use marijuana sales in Illinois exceeded $120 million in August, state officials reported on Thursday. It’s the second highest sales record since the state’s recreational market launched last year and the sixth month in a row that sales surpassed $100 million. Illinois saw $121,933,542 in cannabis purchases last month, with $81,275,830 coming from in-state residents and $40,657,711 from out-of-state visitors. The total sales is slightly lower compared to July’s nearly $128 million haul, but retailers had partially attributed the record-breaking sales that month to the music festival Lollapalooza. Data from the state’s Department of Financial and Professional Regulation (IDFPR) has revealed how the adult-use market has evolved since retailers opened up—with sales consistently trending upward even in spite of the coronavirus pandemic. Via IDFPR. All told, consumers bought 2,702,230 individual recreational marijuana items in August. The new figures do not include sales of medical cannabis, which are tracked separately by a different agency. If the trend continues, the state is on track to see more than $1 billion in adult-use marijuana sales in 2021. That would mean a significant increase revenue for the state. Illinois sold about $670 million in cannabis last year and took in $205.4 million in tax revenue. Illinois took in more tax dollars from marijuana than alcohol for the first time last quarter, the state Department of Revenue reported in May. From January to March, Illinois generated about $86,537,000 in adult-use marijuana tax revenue, compared to $72,281,000 from liquor sales. In July, state officials put $3.5 million in cannabis-generated funds toward efforts to reduce violence through street intervention programs. Wisconsin Gov. Tony Evers (D) is getting “tired” of hearing about these sales figures, he said in April, joking that Illinois Gov. J.B. Pritzker (D) always “thanks me for having Wisconsinites cross the border to buy marijuana” since the neighboring state does not have…

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Source : Illinois Adult-Use Marijuana Sales Exceed 0 Million For Sixth Month In A Row, State Data Shows

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