Illinois October Pot Sales Over $100 Million Should Be More
The marijuana sales in Illinois for October went over $100 Million but it should be higher.
Each month, when the state of Illinois releases the cannabis sales numbers for the previous month a couple of things come to mind. I think this weed thing is going to work out. Why didn't we do this sooner?
I was very confident that it would work out well but I had no idea that it would be this huge. That amount of money is ridiculous. Hopefully, the government is using it well.
Here's the current breakdown thanks to the chicago.suntimes.com,
- October sales topped $100 million for the first time.
- The previous month's record was $99 million.
- $75 million in recreational sales.
- $33 million in medical marijuana.
- In the first 10 months, recreational is at $500 million.
- In the first 10 months, medical is at $300 million.
I remember back in school, I would get B's & C's. I was pretty happy with that. Of course during conferences, my teachers would give my parents the old I wasn't reaching my potential speech. They would say if I put in more of an effort, I could be doing much better.
Well, Illinois just got the same progress report about cannabis sales.
According to chicago.suntimes.com,
"However, cannabis industry analyst Andy Seeger said October’s monthly sales figures still fall short of the market’s true potential. He noted Illinois should be on pace to sell around $1.2 billion in weed this year. But given that the recreational pot industry was built on Illinois’ “very small medical market,” Seeger noted the existing firms who were operating before January have now been tasked with meeting the state’s growing appetite for legal pot. The supply just cannot meet that demand still, as we have no new players and the bill itself has not been realized in its potential. "
It's crazy to think that the weed beast could get even bigger in Illinois. Six more cities have approved recreational sales. More licenses will be added. I wonder what the number will be next year at this time.