Illinois Dispensaries Sell a Record $44.3 Million Worth of Marijuana in May
Sales of adult-use cannabis in Illinois hit a record high in May as the state’s recreational shops sold $44.3 million worth of legal marijuana products, state officials reported last week.
According to the most recent data from the Illinois Department of Financial and Professional Regulation (IDFPR), which oversees dispensary licensing and tracks sales, in-state residents purchased more than $34 million worth of cannabis last month.
Illinois residents spent nearly $4 million more on cannabis during the month of May than when legal recreational sales first began in January. Another $10.2 million worth of marijuana was sold to out-of-state residents, also a record.
Through the first five months of the year, recreational dispensaries in Illinois have sold more 4.4 million cannabis products worth over $191.5 million.
The spike in recreational sales in May came as many retail shops pivoted to online sales and curbside pickup amid the ongoing COVID-19 pandemic.
Meanwhile, sales of medical cannabis from 55 licensed medical marijuana dispensaries in Illinois eclipsed $32 million in May, according to data from the state. Concentrates and infused products made up $17.7 million worth of sales, while dry flower accounted for $14.3 million.
Illinois medical marijuana dispensaries have sold $141.3 million worth of cannabis in 2020, state records show.
According to cannabis market research firm BDSA, sales of marijuana in Illinois are expected to reach $1.5 billion by 2025.
“Its central location and large population –– in addition to the lack of adult-use programs in neighboring states — makes it very attractive to multistate operators and investors,” BDSA co-founder and CEO Roy Bingham said via a news release last month.