Illinois announces record-breaking legal cannabis sales

Half a billion dollars. This is how much money the state of Illinois made from the legal marijuana market in its first year of existence. Chicago-based television station WREX reported that the state generated $ 582,226,511.45 in revenue from sales of recreational marijuana from January to November. The state Treasury Department said Illinois had "more than $ 75 million in sales in October and November, with the bulk of sales coming from residents of the state." Total December revenue reportedly isn't yet available, and the numbers don't include medical marijuana sales. It's further evidence of a great opening year for Illinois' burgeoning marijuana market, which officially opened a year ago. On New Years Day 2020, customers flocked to the state's newly opened pharmacies, lining up long lines and creating a carnival vibe as Illinois became the last state to lift weed prohibition. More than 77,000 transactions were completed that day for total revenues of more than $ 3.2 million. Several pharmacies across the state ran out of weed within the first week. At the end of the first month, Illinois authorities reported marijuana sales of nearly $ 40 million. After the first two months, the number had grown to more than $ 74 million. In June, months after the COVID-19 pandemic, Illinois dispensaries sold more than $ 47.6 million in cannabis products - breaking the record set the month before. "The successful start of the legal cannabis industry in Illinois represents new opportunities for entrepreneurs and the very communities that have historically been harmed by the failed war on drugs," said Toi Hutchinson, Governor J.B. Pritzker's senior cannabis control advisor, at the time. "The administration is committed to creating multiple entry points into this new industry, from dispensary owners to hauliers, to ensure legalization is fair and accessible to all Illinoisans."