ILLINOIS (KFVS) - More than $10 million was made during the first week of adult-use cannabis sales in Illinois.
The Illinois Department of Federal and Professional Regulation announced that statewide sales from Wednesday, January 1 through Sunday, January 5 totaled $10,830,667.91.
Dispensaries across the state made 271,169 transactions over the five-day period.
Twenty-five percent of cannabis sales tax revenues will support the Restore, Reinvest and Renew program, which aims to address the impact of economic disinvestment, violence and the historical overuse of the criminal justice system.
The Department of Revenue expects to have a tax revenue estimate by the end of February, when initial tax payments from dispensaries are due.
On Thursday, Jan. 2, the Department finished the first round of applications for new dispensary licenses. A preliminary count showed that more than 700 applicants submitted applications seeking nearly 4,000 licenses.
More than 600 of the applicants identified themselves as qualifying for social equity applicant status. The Department will award up to 75 new dispensary licenses, which will be announced by May 1, 2020.