Illinois Has Sold $1 Billion in Recreational Cannabis So Far This Year
According to data from the Illinois Department of Financial and Professional Regulation (IDFPR), the state has already sold a little over $1 billion in recreational cannabis products in 2022. Last year, it took until October for the state to cross the $1 billion sales threshold. Since the adult-use cannabis program launched in 2020, Illinois has sold over $3 billion in recreational cannabis products. While 2022 has already been a stable year for the state’s cannabis market, it is expected that the remainder of the year will see increased sales figures as officials approved additional social equity retailers in July.
California Asks Cannabis Businesses to Conserve Energy Amid Heat Wave
Today is the third consecutive day that California has asked legal cannabis businesses throughout the state to conserve energy because of the current heat wave. The state is asking cannabis operators to voluntarily turn off lights and major power sources as there is a concern the heat wave will threaten California’s power grid. The Department of Cannabis Control also issued a recommendation for cannabis businesses to utilize backup generators whenever possible as temperatures hit triple digits in some areas. The heat has also caused water shortages that have impacted cannabis and hemp farmers in California and across the West Coast.
Germany Imported a Record Amount of Cannabis in the First Half of 2022
During the first half of 2022, Germany imported a record amount of cannabis for scientific research and medical use. The data shows that Germany – the European Union’s largest market – is on pace to match or exceed its cannabis imports for 2021. It also shows that Germany’s medical cannabis program has seen steady growth. Separate information shows that Canada is seeing stiff competition to remain Germany’s largest cannabis supplier. The country also receives cannabis from companies in Denmark, Portugal, and the Netherlands.
