Cannabis Sales in Illinois Reach $3.2 Million on Its First Day of Legalization
Written by SOURCE on January 3, 2020
CNN reports that it was a Happy New Year indeed for Illinois, which saw a haul of nearly $3.2 million in sales of recreational marijuana on its first day.
The Illinois Department of Financial and Professional Regulation revealed that the state’s 37 dispensaries accounted for 77,128 transactions, which totaled more than $3.17 million. According to the Chicago Tribune, Illinois’ first-day sales were one of the strongest showings for any state that has legalized marijuana.
In June, Illinois Governor JB Pritzker signed the Cannabis Regulation and Taxation Act into law, making it the 11th state to legalize weed.
Under the Illinois law, taxes obtained from sales would first be used to expunge about 770,000 minor cannabis-related cases. Any remaining funds would be put towards support drug treatment and enforcement programs, among other statewide initiatives.
“The amazing thing about that is that there’s a significant portion of these dollars that go directly into this community reinvestment fund, so we can continue to rebuild communities that have been hardest hit by the war on drugs,” Toi Hutchinson, Governor Prtizker’s senior adviser for cannabis control, said. “So sales are great but let’s never lose sight on the impact that we’re having on families around this state.”
The bill will allow for Illinois residents 21 and older to possess 30 grams of cannabis “flower.” Non-residents can only have up to 15 grams.
