Recreational marijuana sales in Illinois could be hurt by a surge in medical cannabis applications with the Jan. 1 launch of adult-use sales.
More than 2,570 people applied for medical marijuana cards Jan. 1-17, nearly a 34% jump from Dec. 1-17, the Chicago Tribune reported.
Regulators earlier in January warned marijuana retailers they are required to keep enough product on hand for MMJ card holders, which means the stores might not have enough recreational product to meet demand.
Some marijuana stores already have had to temporarily close because they didn’t have enough product.
The increase in medical marijuana card applications is likely a way to avoid paying “sky high” taxes on recreational cannabis, the Tribune reported.
Marijuana Business Daily projects recreational marijuana sales in Illinois could hit $2.5 billion annually.
Written by John Rebchook.
View the original article at here.
Marijuana Business Daily