Illinois continued marijuana sales record-breaking streak last month, according to the state’s Departing Financial and Professional Regulation on a report dated Wednesday 2nd May 2021. It was the third month in a row that recreational cannabis sales had hit more than $100 million.
In May, Illinois recorded $116,380,348 worth of marijuana purchases, and this exceeded April by around $2 million. Another record was also set with a total of 2,512 093 cannabis items sold in the same month.
According to distribution, Illinois residents accounted for approximately $80 million, and the rest, about $37 million purchases, were from out-of-state visitors. The figures did not include medical cannabis sales because a separate agency reports them.
The Illinois recreational cannabis market was launched in January 2020, and by May, Marijuana sales had hit $44,317,385. The state has witnessed more than double that income since then. It is approximated that if the trend keeps up, the state is likely to see more than $1 billion in marijuana sales before 2021 ends. If that ever happens, then it would translate to a windfall of total tax revenue.
In 2020, the sales accumulated to about $670 million, and $205.4 million was paid as tax revenue. Last month, the state’s Revenue Department reported that marijuana contributed more tax dollars than alcohol. The Illinois officials have reiterated that all the dollars from taxes are being utilized properly.
An example of where the dollars have been used is $31.5 million distributed as grants to disproportionately impacted communities by the war on drugs. Awarding these grants is not all that the state is doing to repair the harms of marijuana criminalization and promote social equity. According to Gov. J.B. Pritzker People with low-level marijuana convictions were also being pardoned, and more is expected.