Illinois makes $40 million in the first month of recreational cannabis sales

Illinois is on a roll with recreational cannabis sales raking in $11 million on the first week and ending the month with a total of $40 million. 

Illinois Department of Financial and Professional Regulation reported, statewide adult-use cannabis sales in January totaled $39,247,840.83. The 41 licensed dispensaries across the state sold $972,045 items over the 31-day period. 

The department also announced the residents sales at $30,611,632.22 and out-of-state residents totaled $8,636,208.61.

Toi Hutchinson, the Senior Advisor for Cannabis Control said, “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”.

It has been a successful month for the state, however, the high demand has resulted in some issues. The staff is exhausted and there is a shortage in product supplies, which is expected to last for months. As a result, several dispensaries have had to shut down or strictly sell to medical patients. 

As the demand and revenue continue to rise, it is safe to say that Illinois is thriving with the legalization of cannabis. With the cannabis industry booming, it will be interesting to see how this market handles it first year.