Cannabis sales in Illinois hit nearly $3.2 million on first day of legalization
Illinois has legalized recreational weed and almost immediately the state hit a cash windfall which will allow the state to address thousands of cannabis convictions
The state of Illinois is starting off the new decade with a bang after reportedly making nearly $3.2 million in sales of recreational marijuana on its first day
According to CNN, the Illinois Department of Financial and Professional Regulation is reporting that when they calculated the earnings of the 77,128 transactions made at the state’s 37 dispensaries, the sum came out to be over $3.17 million.
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After Governor JB Pritzker signed the Cannabis Regulation and Taxation Act into law back in June, Illinois became the 11th state to legalize weed. The bill allows residents who are age 21 and older to possess 30 grams of cannabis “flower” and for non-residents to have up to 15 grams.
The Chicago Tribune reports that these massive first-day sales are amongst the highest showings for any state that has legalized marijuana in the country.
“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.”
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To Hutchinson’s point, under the new law, any taxes obtained from these sales would first be used to expunge approximately 770,000 minor cannabis-related cases. Then, any remaining money will be put towards supporting drug treatment and enforcement programs, among other statewide initiatives.
