Marijuana Business Magazine February 2020

Marijuana Business Magazine | February 2020 30 Illinois Launches Adult-Use Cannabis Sales Thousands of consumers turned out on a cold New Year’s Day to mark the historic start of adult-use cannabis sales in Illinois. According to the state’s Department of Financial and Professional Regulation, more than 77,000 legal recre- ational cannabis transactions occurred Jan. 1 in Illinois, resulting in sales of nearly $3.2 million. A few hurdles were reported by retailers on the Jan. 1 launch—including software glitches that delayed some sales—but, by and large, the biggest problem was satisfy- ing the immense demand (see Illinois item on page 32). Marijuana Business Daily projects the Illinois marijuana market could generate up to $2.5 billion per year. Canadian Consumers See First Cannabis-Infused Products at Retail Marijuana retailers in Canada started offering a limited number of infused products such as edibles, extracts and topicals in December, and the number of items available in this category is expected to increase in the coming months. Health Canada began accepting applications for infused product licenses Oct. 17, although approval takes a minimum of 60 days. Greg McLeish, director of equity research at the Toronto office of Mackie Research Capital, said the abil- ity for licensed operators to sell infused products could “put a major dent in the black-market concentrate and edible space.” Industry Developments | International & State National & International News Countries included have passed legislation at the federal level and must fulfill at least one of the following criteria: • Cultivation, manufacture or sale of medical and/or recreational cannabis allowed. • Doctors can prescribe medical cannabis. • Import and/or export of medical cannabis allowed. High: Countries at the forefront of the global industry. Frameworks are established, and adoption is well underway. Medium: Implementation has begun but is still limited or restricted; lots of room for the market to develop. Low: Legislation has been passed, but implementation is very limited or nonexistent. Decriminalization is not included. MAP LEGEND High level of medical development/implementation Medium level of medical development/implementation Low level of medical development/implementation Other - federally illegal but unique circumstances Recreational