Rec Marijuana Sales Drop In August As Illinois Awards Final Round Of Retail Licenses

Illinois recreational cannabis sales saw a 4.6% sequential drop in August to $129.4 million after breaking a record in July with the largest monthly sales year-to-date, reported New Cannabis Venture’s Alan Brochstein.

In July, retailers sold a total of 3,251,062 cannabis products worth $135,658, as per data from the Illinois Department of Finance and Professional Regulation.

So far in 2022, sales totaled $886.26 million, representing an increase of 16% year-over-year. In 2021 recreational cannabis sales amounted to $1.38 billion, being up 106% compared to 2020.

More Cannabis Tax Dollars Than Liquor

Despite a slight drop in August, the Prairie States is taking in more tax dollars from cannabis receipts than alcohol. In 2021, recreational cannabis taxes exceeded liquor taxes by nearly $100 million. The state puts aside a chunk of the cannabis tax revenue to support programs created to reinvest in communities most harmed by the drug war.

Final Round Of Rec Cannabis Dispensary Licences

Meanwhile, Illinois recently issued 185 total adult-use cannabis dispensary licenses to social equity applicants, including three additional Conditional Adult Use Dispensing Organization Licenses that were handed out by Gov. JB Pritzker and the Illinois Department of Financial and Professional Regulation (IDFPR) to applicants who were selected in lotteries held in the summer of 2021.

“With all 185 conditional licenses now in the hands of social equity applicants, we have reached a tremendous milestone,” Pritzker said in a press release. ”Now, we look forward to getting these businesses up and running, creating jobs in the communities most harmed by the failed drug war, and cementing ownership in Illinois’ cannabis industry as the most diverse in the nation."

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