Illinois has surpassed more than $1 billion in cannabis sales by the end of August, which represents a 16% year-over-year increase from the previous year.
According to Ganjapeneur, “The $1,015,700,115.70 in total sales represents a 16% year-over-year increase from August 2021 — last year, Illinois did not reach the $1 billion sales mark until October, the report says.”
The decrease in cannabis sales from July ($135.7 million) to August ($129 million) is attributed to several factors, including typical trends and the calendar makeup. The data follows patterns from last year.
Illinois is now one of the largest cannabis markets in the country, and it is expected to continue growing rapidly in the coming years. Read news about the latest social equity licenses in Illinois.
According to Ganapreneur, in 2021, Illinois saw a 50% increase in cannabis tax revenue, with 25% of those funds going to communities most affected by the drug war. This is in line with the state’s efforts to be equity-centered in its cannabis legalization. 185 conditional adult-use licenses were granted earlier this month, and Gov. JB Pritzker (D) says that Illinois is leading the way in cannabis legalization.