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Illinois Cannabis Sales Smash Records, Surpass Alcohol

Illinois Cannabis Sales Smash Records, Surpass Alcohol

Illinois cannabis sales surpass alcohol

Legalized cannabis sales in Illinois continue to smash all sorts of records, with the state now exceeding $1 billion in recreational weed sales and setting a new record for sales in the month of April.

According to the latest data available from the state’s Department of Revenue, Illinois recorded nearly $115 million in sales in the month of April alone, the highest-grossing month since cannabis became legal last year.

By comparison, the state saw $37 million in sales during the month of April in 2020.

In all, Illinois has now racked up $1,064,750,968 in recreational cannabis sales since legalization took place. Of those sales, nearly $777 million were made to in-state residents, according to the Department of Revenue.

The state also set another remarkable record in the first quarter of 2021, with tax revenues for cannabis sales ($86 million) exceeding those of liquor ($72 million) for the first time ever, according to Newsweek.

If current trends continue, the state is expected to surpass $1 billion in sales during 2021, according to officials.

Illinois Gets More Tax Revenue From Marijuana Than Alcohol

Illinois Gets More Tax Revenue From Marijuana Than Alcohol

Illinois cannabis tax revenue has surpassed alcohol for the first time

Illinois took in more tax dollars from marijuana than alcohol for the first time last quarter, according to the state Department of Revenue.

From January to March, Illinois generated about $86,537,000 in adult-use marijuana tax revenue, compared to $72,281,000 from liquor sales.

Those following the cannabis market in Illinois might not be entirely surprised, as the state has consistently been reporting record-breaking sales, even amid the pandemic. In March alone, adults spent $109,149,355 on recreational cannabis products—the largest single month of sales since retailers opened shop.

It was in February that monthly cannabis revenues first overtook those from alcohol, a trend that continued into March.

If the trend keeps up, Illinois could see more than $1 billion in adult-use marijuana sales in 2021. Last year, the state sold about $670 million in cannabis and took in $205.4 million in tax revenue.

Officials have emphasized that the tax dollars from all of these sales are being put to good use. For example, the state announced in January that it is distributing $31.5 million in grants funded by marijuana tax dollars to communities that have been disproportionately impacted by the war on drugs.

The funds are part of the state’s Restore, Reinvest, and Renew (R3) program, which was established under Illinois’s adult-use cannabis legalization law. It requires 25 percent of marijuana tax dollars to be put in that fund and used to provide disadvantaged people with services such as legal aid, youth development, community reentry and financial support.

Awarding the new grant money is not all that Illinois is doing to promote social equity and repair the harms of cannabis criminalization. Gov. J.B. Pritzker (D) announced in December that his office had processed more than 500,000 expungements and pardons for people with low-level cannabis convictions on their records.

Relatedly, a state-funded initiative was recently established to help residents with marijuana convictions get legal aid and other services to have their records expunged.

But promoting social equity in the state’s cannabis industry hasn’t been smooth sailing. The state has faced criticism from advocates and lawsuits from marijuana business applicants who feel officials haven’t done enough to ensure diversity among business owners in the industry.