Illinois: Some $40 million worth of cannabis sold in 1st month of legal sales

Illinois cannabis stores brought in nearly $40 million (36 million euros) during the first month of legal sales.

From January 1 to 31, 2020, nearly a million products were sold. Sales to tourists, which include Americans not residing in Illinois, accounted for just over 21%, at $8.6 million.

«The successful launch of the legal cannabis industry in Illinois represents new opportunities for entrepreneurs and especially communities that have historically been harmed by the futile war on drugs,» said Toi Hutchinson, head of policy on the cannabis Illinois, in a press release. «The administration is dedicated to providing multiple entry points into this new industry, from dispensary owners to transporters, to ensure that legalization is fair and accessible to all Illinoisans.»

Illinois is the fifth-largest U.S. state in terms of population and was expected to become a major player in the cannabis market, with a population of 12 million. In 2014, Colorado recorded $14 million in cannabis sales in its first month, 25% less than Illinois relative to its population.

And if the figures impress, Illinois officials emphasized that their top reform priority was to repair the damage of the war on drugs, promote social equity in the industry and implement restorative justice provisions.

«A portion of every cannabis sale will be reinvested in the communities most affected by the failure of the war on drugs,» a declared the Department of Financial and Professional Regulations when new sales figures are published.

11,000 people sentenced for cannabis were also amnestied prior to legalization..

The Ministry of Finance also announced that commercial licenses for micro-cultivation, cannabis infusion and transportation would be available in February. Applicants meeting the requirements of the Social Equity Program «will receive additional points on their application and are eligible to receive technical assistance, grants, low-interest loans and fee reductions and waivers,» it said.