Illinois Marijuana Sales On The Rise Again, With $132 Million Of Cannabis Sold In April

Illinois Marijuana Sales On The Rise Again, With 2 Million Of Cannabis Sold In April
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Illinois adult-use marijuana sales reached nearly $132 million in April, the second highest monthly total since the market launched in 2020 and another sign that the state’s industry is stabilizing following a slump at the beginning of this year. The first couple of months of 2022 saw lagging sales, but state data on cannabis purchases in March and April indicates that the market is on the rebound. The Illinois Department of Financial and Professional Regulation (IDFPR) reported that there were almost $91 million in adult-use cannabis sales from in-state consumers last month, while about $41 million came from out-of-state visitors. A total of 3,102,233 individual marijuana items were sold in April. Via IDFPR. The totals don’t include medical cannabis products, which are reported separately by a different state agency. While Illinois broke its yearly record for cannabis sales in 2021—with more than $1.4 billion in cannabis sold last year—marijuana purchases dipped in January and February, following the December 2021 record-high of $137,896,859. From last year’s sales, Illinois generated almost $100 million more in tax revenue from adult-use marijuana sales than from alcohol in 2021, state data found. It’s unclear what factors may have contributed to the dip at the beginning of this year, or the recent rebound. However, the unofficial cannabis holiday 4/20 takes place in April, which may have driven up sales. Marijuana purchases also ticked up in April 2021 compared to the prior month, though the May data and subsequent months of last year were mostly higher. With respect to marijuana tax revenue, Illinois is using part of those dollars to fund equity initiatives in the state. For example, officials announced in December that applications were opening for $45 million in new grants—funded by cannabis tax money—that will support programs meant to reinvest in communities most harmed by the drug war.…

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Source : Illinois Marijuana Sales On The Rise Again, With 2 Million Of Cannabis Sold In April

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