Illinois adult-use cannabis sales have hit yet another record, reaching $127.8 million in July, about a $12.3 million increase from June, which reported over $115.5 million in recreational sales.
According to a monthly report by the Illinois Department of Financial and Professional Regulation, over $85.4 million of those sales came from in-state residents, while more than $42.3 million came from out-of-state residents.
In July, the sales from out-of-state residents hit a record-high and showed a $10 million increase from the previous month, which reported over $36.3 million in sales from out-of-state residents.
Perhaps the record-high number of sales from out-of-state residents was driven by regular summer tourism and Lollapalooza, the state's annual four-day musical festival held in Grant Park.
According to Quad-City Times, Lollapalooza was launched 30 years ago in 1991 and made its way to Illinois in 2005. Since then, the music festival has brought in hundreds of thousands of guests each year, infusing millions of dollars into the state’s economy.
Jane, an e-commerce cannabis platform, also reported a boost in recreational cannabis sales according to Quad-City Times, reporting that 18 Chicago dispensaries saw a 6% increase in sales over Lollapalooza weekend, compared to the four weekends prior. Additionally, Jane reported that pre-rolls had the highest growth in sales, increasing 27.5%, even though smoking is prohibited in Grant Park.
Last year, Illinois totaled over $669 million in recreational cannabis sales, and the state has already surpassed that figure just seven months into 2021, generating over $753 million in adult-use sales.
The state is in the process of expanding its cannabis program, as it's currently awarding 185 cannabis dispensary licenses in a series of three lotteries throughout July and August, and the first one took place on July 29, Cannabis Business Times previously reported.
Furthermore, the state's department of agriculture also recently "issued 69 adult-use cannabis licenses, including 32 craft grow licenses, 28 infuser licenses and 9 transporter licenses," Cannabis Business Times previously reported.
