Illinois Tax Revenue from Cannabis Surpasses Alcohol

Illinois cannabis tax revenues outpaced alcohol tax revenues for the first time after generating $86 million during the year’s first quarter.

Full story after the jump.

Cannabis tax revenues in Illinois surpassed those of alcohol in the state for the first time through the first quarter of the year, totaling $86 million compared to $72 million, Newsweek reports. The state is on pace to sell more than $1 billion in adult-use cannabis products this year, which would be a new state record.

According to Department of Financial and Professional Regulation data outlined by the magazine, consumers are spending about $3.5 million daily on adult-use cannabis products in the Land of Lincoln. In March, recreational cannabis sales reached $110 million. The following month was the state’s highest-grossing for cannabis sales at nearly $115 million.

In 2020, Illinois sold $670 million worth of cannabis-related products, which generated $205 million in total tax revenue.

Since adult-use cannabis sales began in 2020, the state has sold $1,064,750,968 worth of cannabis products, according to state data cited by NBC Chicago.

In April, Wisconsin Gov. Tony Evers (D) said that he was “tired” of Illinois Gov. J.B. Pritzker (D) thanking him for the tax revenues from Wisconsinites who cross the border to buy cannabis in his state, as it remains outlawed for adult use in the Badger State.

According to a Leafly report, Illinois nets about $10 million from out-of-state cannabis sales every month with visitors comprising about a quarter of cannabis sales.

None of Illinois’ border states have yet approved the reforms.

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