• VapeBiz
  • News
  • Illinois Cannabis Market Sold Nearly 1.3 Million Products in July

Illinois Cannabis Market Sold Nearly 1.3 Million Products in July

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on whatsapp
Share on pinterest

The Illinois Department of Finance and Professional Regulation announced on Monday that July recreational cannabis sales set another record month.

Despite the coronavirus pandemic, Illinois reported nearly $61 million in adult cannabis sales, breaking the record of almost $47 million set in June. During the monthly reporting period, more than one million cannabis items purchased for the first time, 1,270,063, to be exact.

Cannabis sales for Illinois residents were $44,749,787, while out-of-state visitors’ cannabis market sales were $16,207,193.

The new adult cannabis market sales data does not include data on purchases through the state’s medical cannabis program.

State officials emphasized that although the industry’s rising market sales trends are positive economic news, they mainly hope to use tax revenue to reinvest in the communities most affected by the drug war. Illinois announced last month that Illinois’s cannabis market tax revenue for the first six months was $52 million, of which a quarter will be used for social justice programs.

In May of this year, the state announced that it would provide $31.5 million in cannabis taxation for restorative judicial grants.

Out-of-state sales data seems to support Governor J.B. Pritzker (D) ‘s prediction in his January speech that cannabis tourism will increase state revenue.

Before implementation, more than 11,000 people who had previously convicted of marijuana pardoned.

In Oregon, during the global health crisis, officials have witnessed similar sales trends. Data released in May showed that sales of adult cannabis products increased by 60%.

This article is issued by Marijuana Moment.

© 2019-2020 VAPEBIZ.NET All Rights Reserved. Content Can Not Be Translated or Reproduced without Authorization.

Related Articles

0 0 vote
Article Rating
Notify of
Your Name
Your Email
Inline Feedbacks
View all comments