The bustling adult-use cannabis market in Illinois is showing signs of maturity.
After sales figures experienced a steady increase from $80.7 million in February to a summer peak of $127.8 million in July, the state’s retail market plateaued at $121.8 million in August and $121.9 million in September, according to monthly data released Oct. 4 by the Illinois Department of Financial and Professional Regulation (IDFPR).
The most recent sales total comes on the heels of an ongoing retail licensing saga, with the IDFPR awarding 185 licenses in a trio of lotteries held July 29, Aug. 5 and Aug. 19, but a standing court order has blocked the issuance of those licenses.
Nonetheless, September sales have Illinois barking at the door of hitting the $1-billion benchmark for 2021—through the first nine months of the year, cumulative sales rest at $997.1 million, representing a 130.9% increase from this time a year ago. After adult-use sales launched in January 2020, the Illinois retail market reached $669.1 million in total sales last year.
Should sales trends hold steady in fourth quarter 2021, Illinois’ adult-use market will cash in roughly $1.4 billion this year.]]>