Jan. pot bowl is majorly cashed, dude
Illinois rakes in almost $40M over first month of legal cannabis, with more than 20 percent coming from out-of-staters
Customers line up to shop at the Lake View Sunnyside dispensary in Chicago during the first week of legal marijuana sales last month. (One Illinois/Ted Cox)
By Ted Cox
That bowl is majorly cashed, man — as in $40 million worth.
The Illinois Department of Financial and Professional Regulation announced Monday that Illinois took in $39.2 million in sales of adult-use cannabis in the first month of legalization over January. More than $30 million came from Illinois residents and $8.6 million, 22 percent, from visitors from out of state.
According to a news release put out by the department, “Dispensaries across the state sold 972,045 items over the 31-day period.”
“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 adviser for cannabis control to Gov. 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.”
Consider, that was also while many dispensaries were limiting sales to medical-marijuana patients over much of the first month due to concerns over supply. The state did $3.2 million in sales of recreational cannabis on New Year’s Day alone, when legalization first took effect. Even at the current pace, the state would take in about $480 million over the first year of legal weed sales.
State officials emphasize that it’s only the beginning of legal weed in Illinois, and they’re urging residents to apply for cannabis infuser, craft grower, and transporter licenses that are still available through the Illinois Department of Agriculture — especially so-called social-equity applicants who might have previously faced criminal charges for possession of what is now a legal substance, or those who live in areas that bore the brunt of marijuana arrests in the War on Drugs.
“Social-equity applicants will receive additional points on their application and are eligible to receive technical assistance, grants, low-interest loans, and fee reductions and waivers,” according to the Regulation Department’s news release. “In the coming weeks, IDOA will be partnering with the Department of Commerce and Economic Opportunity to provide information workshops across the state to answer questions and assist interested applicants. Additional information about the timing and location of workshops will be available in the coming days.”
The Agriculture Department has a webpage with all licensing opportunities in legal cannabis.