Illinois July 2023 Cannabis Sales Reach Record High
The Department of Financial and Professional Regulation (DFPR) reported that July marked the peak of recreational marijuana sales in 2023 and the second-highest monthly total since 2020. Over 3.5 million adult-use cannabis products were sold, generating $140 million. In-state buyers accounted for $104 million, while out-of-state visitors contributed $35 million. Only December 2022 saw greater sales.
Minnesota’s Thriving Hemp-Derived THC Beverage Market
With Minnesota legalizing marijuana possession and use on August 1st, the state is already witnessing success in its low-dose, hemp-derived THC beverage market. This trend could foreshadow strong recreational cannabis sales, bolstered by accessible retail locations and the state’s strategic location. Unlike neighboring states, Minnesota permits the sale of hemp-derived drinks in grocery, liquor stores, and restaurants, fostering an accessible market due to relaxed licensing requirements.
Legal Battle Over THC Product Ban in Arkansas
Hemp businesses from multiple states are suing Arkansas over the ban on “intoxicating” hemp-derived THC products like delta-8, delta-9, and delta-10 THC. Act 629, signed earlier in 2023 by Governor Sarah Huckabee Sanders, aims to prevent minors’ easy access to these products legalized by the 2018 Farm Bill. The lawsuit claims Act 629 violates the Farm Bill and the U.S. Constitution’s commerce and supremacy clauses.
By FCCT Editorial Team
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