Illinois cannabis dispensaries continued to break records in September, as adult-use sales increased 5.7% to more than $67.64 million. The Illinois Department of Financial and Professional Regulation (IDFPR) reported Monday that recreational marijuana sales grew to an all-time high for the fifth month in row.
Sales of adult-use cannabis in Illinois have surpassed $300 million through the first seven months of the year, the state’s Department of Financial and Professional Regulation (IDFPR) reported Monday. July marked yet another record-breaking month for recreational cannabis sales in Illinois, as adult-use dispensaries moved more than 1.2 million products and hauled in nearly $61 million.
Sales of adult-use cannabis in Illinois hit a new record high last month, as recreational marijuana dispensaries sold more than $47.6 million worth of legal products – a 7.5% uptick versus the previous month. According to the IDFPR, which tracks sales at licensed adult-use shops, nearly $240 million worth of recreational cannabis has been sold in Illinois through the first half of 2020.
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 IDFPR, which oversees dispensary licensing and tracks sales, in-state residents purchased more than $34 worth of cannabis last month.
Global cannabis sales are expected to reach $47 billion by 2025, according to analysts at BDSA (formerly BDS Analytics) and Arcview Market Research. According to the firms, the global cannabis industry generated an estimated $14.8 billion in 2019, up a record 46% from 2018. The firms had previously predicted that sales would reach $14.9 billion in 2019.
A new group of polls indicates that Americans are increasingly in favor of legalizing cannabis. A Marist Poll recently found that 62% of adults believe federal marijuana legalization is a “good idea.” Meanwhile, a new Fox News survey of 1,000 registered voters also found that 63% favored the national legalization of cannabis for recreational use.
The global cannabis market is poised to be worth $41 billion by 2024, BDS Analytics shared during the 2019 Cannabis World Congress & Business Exposition in Boston. However, Brightfield Group has a slightly more modest outlook. The Chicago-based firm estimates that U.S. cannabis sales will reach $23 billion 2023.
Two-thirds of Americans still support federal legalization of cannabis according to a new Gallup survey released on Wednesday. The analytics and polling firm shared the results of its annual crime survey, which was conducted in early October and found that 66% of U.S. adults were in favor of legalizing cannabis.