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Thread: Weed sales in Illinois top $3 million on day one of legalization

  1. #1

    Weed sales in Illinois top $3 million on day one of legalization


    Weed sales in Illinois topped $3 million on New Year's Day, the first day recreational marijuana sales were legal, The Chicago Tribune reported.

    The $3.2 million in sales was across 37 dispensaries that started selling recreational weed Wednesday in Illinois, including nine in Chicago, according to the Tribune.

    Illinois is the 11th state to legalize recreational weed. Residents may possess up to 30 grams of the dried flower, five grams of cannabis concentrate and 500 milligrams of THC in edibles; nonresidents may possess half as much.

    The first day sales in Illinois were one of the strongest of any of the states to legalize the drug. Oregon, which legalized the substance in 2015, had a comparable first-day performance also bringing in $3.2 million in sales, the Tribune reported.

    Some dispensaries in Illinois were even turning customers away on Wednesday, the Tribune reported.

    Michigan, the only other Midwestern state to legalize weed, started allowing recreational sales last month, reportedly generating $221,000 in sales on the first day from three dispensaries.

    Recreational cannabis is also fully legal in Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon, Washington and Vermont.
    https://thehill.com/policy/476605-we...f-legalization



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  3. #2
    I thought the sales would have topped at least $5 million.

  4. #3
    Quote Originally Posted by Anti Globalist View Post
    I thought the sales would have topped at least $5 million.
    That is over 86K per dispensary so there were probably people lined up all day .

  5. #4
    Quote Originally Posted by oyarde View Post
    That is over 86K per dispensary so there were probably people lined up all day .
    Not a bad business. Have you invested in weed?

  6. #5

  7. #6
    Quote Originally Posted by Warlord View Post
    Not a bad business. Have you invested in weed?
    I invested heavily in weed many decades ago . Mostly I grew it and smoked it all . Now they have taken all the fun out of it . I am not paying any weed taxes on buying weed or selling weed stocks to pay taxes on . Here there is no tax on gold and silver coins .

  8. #7
    Quote Originally Posted by Working Poor View Post
    Now all the cartels have a legal license.
    What? It doesn't take "cartel money" to get into this business, and it would be even riskier and less profitable for them to do so with legit licenses, taxes, testing and regulations. People get shutdown all the time out here for trying to get cute and be sneaky with black market stuff.

    Pop positive for a banned pesticide, and they come supervise you destroying your entire crop. I've seen it happen(not our grow).


    That being said, plenty get away with some $#@! too, but that's indicative of the over all failure of prohibition and government regulations, is it not?

  9. #8
    Quote Originally Posted by Warlord View Post
    Not a bad business. Have you invested in weed?
    I have, and did quite well last year.

    Finding growers and businesses that offer investment opportunities is the way to go, I'd stay away from these pot stock things, we don't mess with them and we're one of the biggest producers in Colorado.



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  11. #9
    I hear that the taxes have made the black market more competitive.

  12. #10
    Quote Originally Posted by navy-vet View Post
    I hear that the taxes have made the black market more competitive.
    In Canada but not in the states as far as I know. Could be wrong though.

  13. #11
    Quote Originally Posted by CoastieinColorado
    That being said, plenty get away with some $#@! too, but that's indicative of the over all failure of prohibition and government regulations, is it not?
    IMO the more anything is regulated the more under handed stuff is going to go on and is going on. People like you coastie who want to do an honest business and put a good product on the market have to bend over backwards to comply. Look at all the states that pot is not legal. Who is selling pot in these states? When pot becomes legal do you not think cartel members are getting the legal licenses to sell and grow in many of the places that go legal? Can a regular person grow pot in these areas without getting a license? In my state "hemp" is so called legal but I can't go out and buy some seeds and plant some hemp in my garden if I want to. Hell no I have to apply for a license and be on a waiting list and if I do get permission then I have to have all these government bureaucrats come out and tell me who I can buy the seeds from where I can plant it how to cultivate and harvest and if I do not follow all their rules after all the expense of doing their way I can loose everything if something does not comply with the protocol. To me that is not actually legal or freedom.
    I am for it being legal but, I am not for all the BS that is attached to it. If pot is ever so called legalized in my state I will not consider it truly legal if I can't order me some seeds and grow the amount I want in my own yard without a bunch of *&^%$er telling I got to pay them before I do it.

  14. #12
    Quote Originally Posted by navy-vet View Post
    I hear that the taxes have made the black market more competitive.
    Makes sense to me.

  15. #13
    Wonder if Ill. will be able to cover their pension debt now?

  16. #14
    Quote Originally Posted by tod evans View Post
    Wonder if Ill. will be able to cover their pension debt now?
    Probably not because no doubt there will be a lot of skimming going on and you could probably bet that the people paying these taxes will not hold accountable these offices that do the collecting of these funds .

  17. #15
    Quote Originally Posted by tod evans View Post
    Wonder if Ill. will be able to cover their pension debt now?
    That's a good one .

  18. #16
    Quote Originally Posted by Working Poor View Post
    IMO the more anything is regulated the more under handed stuff is going to go on and is going on. People like you coastie who want to do an honest business and put a good product on the market have to bend over backwards to comply. Look at all the states that pot is not legal. Who is selling pot in these states?
    Certainly not just cartels. There is a huge market for connoisseur grown type marijuana, something the cartels aren't known for, because they are not prone to regulation, nor do they give a $#@! about anyone's health, so it's just about speed for them. They also use horrible pesticides and fertilizers. Again, most marijuana users in current year want to know their smoke is safe. Well, it's always been that way as long as I've ever been around it, every strictly marijuana user I've ever known leads as "normal" of a life as anyone else.

    And to be honest-if they're gonna get tax money anyway, wouldn't you rather it come from the cartels, and not regular Americans?

    And I agree, more regulation = more incentive to go underground.


    Quote Originally Posted by Working Poor View Post
    When pot becomes legal do you not think cartel members are getting the legal licenses to sell and grow in many of the places that go legal?
    Irrelevant with how the current system is set up-they'd be heavily regulated under all of the same rules, especially here in Colorado, and it would be "legal", so what would it matter who obtained the licensing?

    Quote Originally Posted by Working Poor View Post
    Can a regular person grow pot in these areas without getting a license?
    Recreational yes, up to 6 plants with only 3 flowering. Yes, that's bull$#@!. For now, get better and grow huge plants.
    I can easily get 6 pounds out of those 3 plants outdoors, and that's a lot of weed, I don't care who you are.

    Barring that, get a medical card with a max plant count(99 plants, up to 32 OUNCES of flower OR concentrates on your person at any time).


    Quote Originally Posted by Working Poor View Post
    In my state "hemp" is so called legal but I can't go out and buy some seeds and plant some hemp in my garden if I want to. Hell no I have to apply for a license and be on a waiting list and if I do get permission then I have to have all these government bureaucrats come out and tell me who I can buy the seeds from where I can plant it how to cultivate and harvest and if I do not follow all their rules after all the expense of doing their way I can loose everything if something does not comply with the protocol. To me that is not actually legal or freedom.
    I am for it being legal but, I am not for all the BS that is attached to it. If pot is ever so called legalized in my state I will not consider it truly legal if I can't order me some seeds and grow the amount I want in my own yard without a bunch of *&^%$er telling I got to pay them before I do it.
    Look, I get all of that and I agree. All I can say for now is either move to a state where it's "legal" "enough" to your liking(why I'm here), or grow anyway and just don't tell anyone and you'll be fine.



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  20. #17
    Quote Originally Posted by CoastieinColorado
    and to be honest-if they're gonna get tax money anyway, wouldn't you rather it come from the cartels, and not regular Americans?
    No because I know the cost is passed on to the consumer. In my day and ounce was $10 now I can't even feel the effects for under $20 a gram. To me it cost too much and I would rather buy it from someone who did not have to over charge me because of taxes and if I do pay for I want an account of what these taxes are being used for.

  21. #18
    Quote Originally Posted by Working Poor View Post
    No because I know the cost is passed on to the consumer. In my day and ounce was $10 now I can't even feel the effects for under $20 a gram. To me it cost too much and I would rather buy it from someone who did not have to over charge me because of taxes and if I do pay for I want an account of what these taxes are being used for.
    $75-100 ounces of flower all day long here, of good stuff up to 40% THC.
    $50 ounces or less for medical.
    Live resins go for $22-50/gram.
    Rosin $50+.
    Butane/Propane Honey Oil $8-15/gram.
    99% THC crystals, ~$25-35/gram

    It's not expensive here.

    Grow it/process it/test it yourself ~$$$ depends on your skill level.

    Depending on quantity purchased and current market forces, we sell resale for as little as $500/lb, and up to $950. Extractors buy it for ~$375-500/lb.

    Like I said earlier in the thread, depends on where you live in the US, and the level of government $#@!ery involved. We've been doing it the longest out of anyone, and from what I can discern, have the most relaxed laws(except Oklahoma, holy $#@! it's the wild west out there right now for medical growers, only requirement is Oklahoma residency, no plant limit as of last year.).
    Last edited by CoastieInColorado; 01-07-2020 at 09:32 PM.

  22. #19
    In Maine, they voted to legalize recreational marijuana the same day that Donald Trump was elected. November 2016. They still don't have stores open.

  23. #20
    Quote Originally Posted by navy-vet View Post
    I hear that the taxes have made the black market more competitive.
    I wouldn't say it made the black market more competitive but black market still owns the overwhelming majority of the market share in California.

    And its not going away anytime soon, CA just raised cannabis taxes, idiots...
    JULESWIN-ISMS
    Quote Originally Posted by juleswin View Post
    Bernie will bring about a more free market in the US than Trump. Hence the reason I wouldn't mind having him as my next president.
    Quote Originally Posted by juleswin View Post
    If the US govt ends their official and clandestine attacks on Venezuela, I can brush up on my Spanish and move there.

    @Ehanced_Deficit's real agenda on RPF :
    DNC-S (Soros)
    CLINTON-PELO-SCHIFF
    NYT-CNN-SOCIALIST
    CIA-B (Brennan)

  24. #21
    Quote Originally Posted by parocks View Post
    In Maine, they voted to legalize recreational marijuana the same day that Donald Trump was elected. November 2016. They still don't have stores open.
    Can you grow it for personal use?

  25. #22
    Quote Originally Posted by eleganz View Post
    I wouldn't say it made the black market more competitive but black market still owns the overwhelming majority of the market share in California.

    And its not going away anytime soon, CA just raised cannabis taxes, idiots...
    I bet that following the money there, would take you through the legislature and straight to Newsom. And maybe beyond....

  26. #23
    Quote Originally Posted by navy-vet View Post
    I bet that following the money there, would take you through the legislature and straight to Newsom. And maybe beyond....
    Beyond to the cartels who don't want free competition on the open market.

  27. #24
    Quote Originally Posted by Working Poor View Post
    Can you grow it for personal use?
    Yes.

    Are there states where they have recreational stores and you can't grow it? I don't know the laws in every state.

    In Maine, 2016, they voted on a referendum, 6 flowering, and that passed. Maine government decided to cut that to 3 flowering, and changed that law. The stores are still not open.



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  29. #25
    Quote Originally Posted by parocks View Post
    Yes.

    Are there states where they have recreational stores and you can't grow it? I don't know the laws in every state.

    In Maine, 2016, they voted on a referendum, 6 flowering, and that passed. Maine government decided to cut that to 3 flowering, and changed that law. The stores are still not open.
    IDK if there are states where it is legal but, you can't grow it yourself. It does seem that most states do put limits on how much you can grow for your own personal use. If limits are put on how much a person can grow then it does seem that they could potentially keep lowering the amount allowable to grow until eventually you have no choice except to purchase from certified, and registered growers.

  30. #26
    Legal and regulated are not the same thing. It is not legal if the government has to give permission and make rules about the circumstances under which a product can be used or sold.
    #NashvilleStrong

  31. #27
    That's great news I think. I am sure that weed legalization has only the most positive effects for people and economy. I take CBD, and I have to say that without it my life was way worse... I feel so good thanks to it!
    Last edited by jagrow; Yesterday at 05:02 AM.

  32. #28
    Quote Originally Posted by jagrow View Post
    That's great news I think. I am sure that weed legalization has only the most positive effects for people and economy
    Why are you bumping old weed threads? I see you're a new member... is that your specific interest? Have you followed Ron Paul? Do tell us more if you want..

    Welcome by the way.



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