Nearly $75 Million in Marijuana Sold During First Two Month of Legal Sales: Illinois
There has been around $75 million in marijuana and marijuana products sold in Illinois in January and February, the first two months of legal sales.
In January, the first month of legal sales, there was $39,247,840.83 in marijuana sold, according to the Illinois Department of Financial and Professional Regulation said that marijuana generated $39,247,840.83 worth of sales. This is based on the sale of over 970,000 different marijuana products. Of the $39 million, $9 million came from tourists while $30 million came from those living in the state.
In February, sales dropped slightly (not surprising given the novelty of sales beginning last month) to $35 million, bringing the two-month total to around $74 million.
“The successful launch of the Illinois legal cannabis industry represents new opportunities for entrepreneurs and the very communities that have historically been harmed by the failed war on drugs,” said Toi Hutchinson, senior advisor for cannabis control to Governor J. B. Pritzker. “The administration is dedicated to providing multiple points of entry into this new industry, from dispensary owners to transporters, to ensure legalization is equitable and accessible for all Illinoisans.”
Bethany Gomez, managing director of cannabis research firm Brightfield Group, told the Chicago Tribune that despite the slight dip in sales, it still signals a strong market.
“There is definitely sustained demand here,” said Gomez. “This is not just a novelty thing. … People are willing to wait in line for hours consistently for this, despite a terrible retail experience and terrible product selection.”
On New Year’s Eve, the governor issued more than 11,000 marijuana pardons that were sent to the attorney general’s office.
“We are ending the 50-year-long war on cannabis,” Pritzker said. “We are restoring rights to tens of thousands of Illinoisans. We are bringing regulation and safety to a previously unsafe and illegal market. And we are creating a new industry that puts equity at its very core.”