Illinois hits record-setting year in adult use cannabis sales

Cannabis+Dispensary+sales+in+adult+use+went+up+more+than+%241.5+billion+from+the+previous+year+according+to+Gov.+JB+Pritzker.+

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Cannabis Dispensary sales in adult use went up more than $1.5 billion from the previous year according to Gov. JB Pritzker.

By Michael Mollsen, News Reporter

The Illinois Department of Financial and Professional Regulation has released its 2022 adult use cannabis sales records.

Dispensary sales totaled to $1,552,324,820.37. This figure is a 12% increase from 2021 and a 131% increase since 2020, the first year that recreational cannabis sales became legal.

“Not only did we break our previous sales record by more than 12% with a total of more than $1.5 billion, we also saw the first of our social equity adult use cannabis dispensaries open their doors for business—paving the way for an even stronger 2023.” Gov. JB Pritzker said.

Social equity adult use cannabis dispensaries are owned or controlled by at least 51% of an individual who meets the provided criteria, this includes people who live in disproportionately impacted areas or those with offenses related to cannabis possession or distribution.

According to the Illinois Department of Commerce, Social Equity Applicants are provided support through technical assistance and individual support, eligibility to receive 50 points for their craft grower, infuser or transporter license application score, eligibility to pay reduced license and application fees and access to low interest loans.

“This marks the second straight year that Illinois’ adult use cannabis industry has seen record-setting growth, and we are excited for what the future holds for the most equitable cannabis industry in the country,” said Mario Treto, Jr., secretary of the Illinois Department of Financial and Professional Regulation.

Applications for the next round of cannabis dispensary licenses will begin to be accepted starting Jan. 30, 2023.