Chart of The Week: Illinois and Michigan cannabis sales leveling out

Illinois and Michigan total cannabis sales stayed relatively steady for the third month in a row, according to new data released by the states, suggesting the current market conditions have found their level. Since July total Illinois sales have increased by a mere $4 million a month, from $94.2 million to $99.1 million in September, a paltry number compared to increases between spring and summer, where sales jumped by $25 million in four months. In Michigan, total cannabis sales actually decreased since July by almost $4 million, from $109.6 million in July to $105.3 million in September.

Earlier this month, Michigan regulators announced plans to make recreational licenses available to any applicant as of March 1, 2021, not just those who already have a medical cannabis license. Illinois was supposed to award 75 new dispensary licenses last May, but those awards have been stalled by lawsuits.