Plus   Neg

Illinois Recreational Cannabis Sales Sets Another Record In July

Recreational cannabis sales in Illinois continue to set records despite the coronavirus pandemic.

According to data provided by the Illinois Department of Financial and Professional Regulation or IDFPR, adult-use cannabis sales in the state in the month of July surged to a record $60.96 million from $47.65 million in the previous month.

In-state resident recreational marijuana sales grew to $44.75 million in July from $35.26 million in June, while out-of-state resident sales rose to $16.21 million from $12.39 million in the prior month.

For the first time, Illinois dispensaries sold more than one million marijuana items in the state in a month. The total number of marijuana items sold by stores in Illinois increased to 1.27 million in July from 994,545 in June.

The figures do not include taxes collected, as those figures will be provided by the Illinois Department of Revenue later in the month.

In June 2019, Illinois officially became the eleventh U.S. state to legalize marijuana for adult use after Governor J.B. Pritzker, who advocated for legalization in his 2018 campaign, signed the marijuana legalization bill into law.

Under the new law, Illinois residents can buy 30 grams of cannabis flower, 5 grams of cannabis concentrate and up to 500 milligrams of THC contained in a cannabis-infused product. Non-Illinois residents are allowed to buy only half those amounts and cannot transport it across state lines.

Illinois commenced the sales of recreational marijuana in licensed dispensaries across the state from January 1 this year. The state generated $3.2 million in recreational marijuana sales on New Year's Day.

The Illinois Department of Revenue has projected that the marijuana industry will generate over $57 million in tax revenue and licensing fees in fiscal 2020, and $140.5 million in tax revenue alone in fiscal 2021.

For comments and feedback contact: editorial@rttnews.com

Health News

Follow RTT