Illinois Tracker
Adult-use sales in Illinois were down about 4.6% sequentially to $122 Million. However, this is still a 91% increase YoY. The largest driver of this increase is out-of-state sales which have grown 136% compared to in-state, only about 74%. The annual run rate based on the past 3 months of sales is $1.46 Billion.
Ohio Tracker
Ohio medical sales have remained strong through August. Sales averaged between $7.4 and $7.6 Million per week. This is an increase of 70% YoY. The state is on a run rate of $360 Million.
Mayors Push For Legalization
According to Marijuana Moment, members of the U.S. Conference of Mayors recently voted to call on President Joe Biden to federally legalize marijuana, expunge prior cannabis convictions and allow for commercial sales under a model that promotes social equity. The organization, which represents mayors of cities across the U.S., passed the comprehensive resolution as part of its 89th annual meeting late last month. It notes that the U.S. government has owned a patent recognizing the medical value of cannabis and cited statistics about the racially disparate impacts of criminalization. In addition, the cannabis industry “is likely to become a global multi-trillion dollar industry, with early U.S. sales already generating billions of dollars,” the organization said. But the mayors emphasized that people from communities targeted by prohibition enforcement are underrepresented in business ownership in state-legal markets. That cannabis equity initiatives that use race-neutral qualification standards in state and cities across the country have so far “failed to create equitable market participation and leverage the benefits of diversity.”
