Illinois raked in $1.5 billion in recreational cannabis sales in 2022, a record number despite delays in new store openings and signs that the market had reached a plateau.
Advertisementstood at $322 million through November, slightly lower than the amount sold a year previously, indicating the medical market has peaked.
The sales meant continued growth in tax revenue for the state — $435 million in fiscal 2022, which ended June 30. Of those proceeds, 25% go to neighborhood reinvestment programs, 20% to substance abuse, prevention and mental health, 8% for crime prevention and 45% to the state budget. There are currently 113 adult-use cannabis dispensaries in Illinois, including just the first three “social equity” dispensaries that opened their doors in 2022. Social equity licensees generally have had past low-level cannabis arrests or lived in low-income areas. Nearly 200 more such stores are licensed to open, but many have had trouble securing capital to get started.
One reason sales have increased is that despite falling prices nationwide, the cost of legal cannabis in Illinois, with only 21 licensed full-sized growing sites, remains among the highest in the nation.
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