ST. LOUIS — Illinois’ out-of-state cannabis market has taken a hit as Missouri’s newly legalized recreational market takes off, data shows.
Experts have previously predicted such an outcome, citing, in part, lower taxes in the Show-Me State.
Adult-use cannabis sales to out-of-state shoppers in Illinois fell 11% to $30.8 million in February, compared with the year-ago month, according to data from the Illinois Cannabis Regulation Oversight Office.
Historically, out-of-state shoppers make up about one-third of Illinois’ cannabis revenue.
In 2022, out-of-state sales in Illinois came in at $479.2 million, or about 31% of the state’s total sales. This includes July, when out-of-state sales hit an all-time time of $43.5 million, data from the Illinois Department of Financial and Professional Regulation shows.
The same data shows that in 2021, Illinois’ out-of-state sales were $436.2 million, or about 32% of the state’s total sales.