Illinois marijuana shops have sold greater than $1.6 billion of marijuana for recreational use in 2023, which is the most recent records for Illinois’s burgeoning business.
This is a 5 percent increase from adult-use marijuana sales that are licensed in 2022, based on figures released on Thursday from the Illinois Department of Financial and Professional Regulation.
Illinoisans purchased more joints flowers, gummies and other weed-related products also — 42,124.741 of them to be precise which is a jump of 15% from the year before officials claimed.
The only thing that slowed the Illinois’s booming revenue was a decrease of 14% in sales to non-state residents who spent $418 million. Officials blamed the booming sales of marijuana in neighboring states which have also ratified recreational marijuana like Michigan, Missouri and Minnesota.
However, Illinois’ drop in sales to tourists has been offset with a rise of 14% in sales for residents of the state who splurged more than $1.2 billion in potan additional record.
The company’s sales topped $154 million in December, which was an all-time monthly record.
The totals for the year do not include the $324 million plus in medical marijuana expenditures in the last fiscal year, as per official records of the state.
The recreational sales brought in $417.6 million in tax revenues, officials stated.
“From day one, my administration has put equity first to build the most accessible cannabis industry in the nation,” Governor. J.B. Pritzker said in an announcement. “Our work will continue to repair past harm while providing opportunities for communities across the state and creating a more prosperous future.”
The number of recreational marijuana dispensaries is 177 in the state and one hundred and a half “social equity” dispensaries that were deemed to be the most diverse when it comes to ownership along with other criteria.
Pot giants from corporate pot remain dominant in the market following an uneasy licensing rollout that affected a large portion of the social equity program of Pritkzer.
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