Big weed, big bucks.
Cannabis became far more socially acceptable in the past 10 years than it ever has in the past. Recreational use has become legalized in many parts of the world, most recently in the state of Illinois. According to CNN, the sales from a single day of cannabis legalization brought in a hefty $3.17M on its first day.
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Thirty-seven dispensaries across Illinois opened up with over 77,128 transactions that brought in nearly $3.2M within a single day, according to Illinois Governor’s top advisor for cannabis control, Toi Hutchinson. “The amazing thing about that is that there’s a significant portion of these dollars that go directly into this community reinvestment fund, so we can continue to rebuild communities that have been hardest hit by the war on drugs,” Hutchinson said at a news conference. “So sales are great but let’s never lose sight on the impact that we’re having on families around this state,” he added.
Illinois became the eleventh state to legalize the plant for recreational use in 2019. The new law, however, was historic in the battle for cannabis legalization. Illinois Governor JB Pritzker signed off on the Cannabis Regulation and Taxation Act which made any sales from legal cannabis to clear roughly 770k small cannabis-related cases. The state also plans on putting those dollars towards drug treatment type programs and a few other resources for the community.
