Illinois retailers sold $140 Million worth of recreational marijuana in July, the highest sales total of the year. It is also the second highest monthly total since the adult-use market was launched in 2020.
The Department of Financial and Professional Regulation of the state (DFPR), released sales figures for adult-use marijuana products on Thursday. This totaled $140,048,722.
Out-of-state tourists accounted for 35,792,604 recreational marijuana purchases. Illinois’ state agency that reports medical cannabis sales is separate.
A recent fiscal analysis found that a large portion of the dollars spent on cannabis by visitors likely came from Wisconsin . This week, Wisconsin became an island of prohibition after Minnesota legalized marijuana.
Illinois’ only higher-than-average month since the opening of its cannabis market was December 2022 when $143,899 826 worth was sold. The state’s cannabis sales in 2022 reached a record high , which was more than $1.5 Billion.
Gov. J.B. Pritzker, (D), has taken additional steps to support the state’s cannabis industry. This includes signing a June budget bill that included provisions that allow licensed cannabis businesses the ability to claim state tax deductions they are currently prohibited from claiming at the federal level because of an Internal Revenue Service code (IRS) known as 280E.
In February, the governor said that since 2020, the state’s legalization of marijuana law has created over 30,000 new jobs.
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Illinois, in terms of sales is one of many states experiencing an increase of marijuana purchases during the summer.
State data show that Maryland’s legal marijuana sales hit a record of $87.4 Million during July, the month following the launch of the recreational market.
Since the adult-use marijuana market was opened in February, Missouri has sold about $4 million of marijuana each day in average. The state also saw a record $121.2 in cannabis sales in June.
Michigan marijuana sales hit a record high of almost $261 million during June, according to state data.
Massachusetts marijuana sale reached nearly $150 million in the month of June, a monthly record since November 2018 when the adult-use market was launched.
Connecticut saw marijuana sales reach a record of $24 million in June. This is the sixth month since the recreational industry opened.
A study found that workers who use marijuana off the job are no more likely to be injured than non-users
The post Illinois sets 2023 Marijuana sales record with $140 million in recreational purchases in July first appeared on Marijuana Moment.
