Illinois Is Paving The Way For The Nation’s Largest Adult-Use Cannabis Markets
As of late May 2019, Illinois is the first state to legalize adult-use marijuana cultivation and sales through its legislator. Better late than never!
With this, Illinois is the 11th state to legalize recreational marijuana and consists of one of the nation’s potentially largest adult-use cannabis markets. Forecasting tremendous business opportunities, the Marijuana Business Daily features Michael Mayes, the CEO of the Chicago-based cannabis consulting firm, Quantum 9.
In this article, Mayes discusses the state’s “strong” status in operating capital for existing cannabusinesses. This includes details regarding the state’s first three waves of licensing, limitations on cultivation centers, and possession regulations.
Michael Mayes and the Team at Quantum 9 Work Hard Toward Access To Marijuana in Illinois and Worldwide
As the new law starts January 1st, 2020, anyone aged 21 or older can legally buy adult-use marijuana in Illinois. Interest and excitement are buzzing among people in and out of the industry. As a result, Mayes states how Quantum 9 has received over 2,000 inquiries since the announcement of legalization in May. With these considerations, competition for potential marijuana applicants will become highly competitive and challenging. Additionally, this will depend on the municipality’s social equity and financial strength.
However, because the state consists of 13 million people alone, business opportunities for the cannabis market remain strong in Illinois. Likewise, Chicago’s population of 2 million people and large tourist population positions this market in a very lucrative direction.
It’s an exciting time to be an Illinoisian as the state of Illinois forecasts $2.5 billion in annual sales a year by 2020 and continues making significant moves in the marijuana market. To learn more about what is to come for marijuana in Illinois, please click here.
Above all, Mayes and the team at Quantum 9 prioritize maximizing growth for successful cannabis businesses. Specializing in permit acquisition and licensing, Quantum 9 has a 92% approval rating and continues to provide expert cannabis consulting around the world.