Illinois Adult-Use Cannabis Retailers Record Nearly $2.7 Billion Since Legalization

Illinois Adult-Use Cannabis Retailers Record Nearly .7 Billion Since Legalization
Cannabtimes

<![CDATA[Cannabis sales have hit a three-month plateau in Illinois. Adult-use retailers reported $129.8 million in cannabis sales in May, according to monthly data released June 3 by the Illinois Department of Financial and Professional Regulation (IDFPR). That’s a slight dip from April ($131.8 million) and March ($131 million), representing maturity in a market that has experienced regular growth since commercial sales first launched in January 2020. Since that launch, Illinois has sold nearly $2.7 billion in adult-use cannabis and remains on pace for another record year. Through the first five months of 2022, adult-use sales are up 22.3% from the same timeframe a year ago. While overall sales for May 2022 fell slightly compared to the previous two months, out-of-state resident sales grew slightly to nearly $41 million, representing 31.6% of the state’s retail market. However, out-of-state resident sales have represented a constant share of the retail market—between 31% and 32%—throughout 2021 and 2022. In regard to transactional volume, Illinois’ 110 licensed dispensaries sold more than 3 million items in May. But that retail footprint will soon expand. On May 27, a judge ended a court order that was preventing IDFPR officials from issuing 185 new adult-use dispensary licenses that were awarded during a three-part lottery last July and August. The majority of those licenses are reserved for social equity applicants.  ]]>

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Source : Illinois Adult-Use Cannabis Retailers Record Nearly .7 Billion Since Legalization

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