Recreational marijuana sales just set a new record high – nearly $64 million worth of cannabis was sold last month. And as CBS 2’s Meredith Barack reported Tuesday evening, those numbers are expected to keep growing. At the Sunnyside dispensary at 436 N. Clark St. in River North, a lot of green has been changing hands […]
illinois marijuana
Lawsuit seeks to delay cannabis license lottery, alleges state picked 21 ‘politically-connected insider companies’
Two unsuccessful marijuana dispensary applicants are suing the state, hoping to hit the pause button on its plans to hand out 75 marijuana licenses. Awarding of the licenses is more than four months behind schedule and last week, the state announced that only 21 of 700 applicants would proceed to a lottery for the 75 licenses. Some lawmakers and […]
Illinois marijuana shop finalists include firms backed by ex-top cop Terry Hillard, restaurateur Phil Stefani: ‘Doesn’t sound … like social equity’
A day after state officials announced that just 21 applicants would be included in an coming lottery to determine the winners of the next round of cannabis dispensary licenses, minority lawmakers urged Gov. J.B. Pritzker to delay all new permits over concerns about an applications process that allowed many clouted and seemingly well capitalized businesses […]
Illinois: 75 cannabis shop licenses to be awarded in lottery that includes just 21 applicants; losing firms ‘shocked’
State officials announced Thursday the next round of long-delayed and highly sought after cannabis dispensary licenses will be awarded in a lottery later this month. The 21 qualifying applicants for the 75 new licenses were informed after a global accounting firm finished grading 1,667 applications, according to the Illinois Department of Financial and Professional Regulation. […]
Marijuana is no longer a ‘dirty little secret.’ Cannabis sales are soaring in Illinois, and the pandemic is helping.
At the beginning of the coronavirus pandemic, 33-year-old Katie Johnston-Smith was feeling “a good, healthy amount of panic.” She tried wine but it didn’t help. She took a marijuana-infused edible, and a calmness washed over her and sleep came easier. “It was pretty nice, because it did help me mellow out,” she said. “I was […]
Illinois Dedicates Marijuana Tax Dollars To Underserved Areas
Illinois will distribute $31.5 million in grants over the next year to local nonprofits, faith- or community-based organizations and governmental bodies to address issues in historically underserved parts of the state. The money for these grants comes from 25% of the tax revenue the state collects from recreational marijuana sales. It’s part of Illinois’ Restore, […]
Chicago-based Grassroots Cannabis sold in $830 million deal
An $830 million deal to acquire Grassroots Cannabis closed Thursday, upending a trend of failed multimillion-dollar acquisitions of Chicago-based marijuana companies. Grassroots, which has a cultivation facility in Litchfield and is affiliated with eight dispensaries around the state, was acquired by Massachusetts-based Curaleaf Holdings. The deal, announced just over a year ago, is one of […]
Higher than expected: Illinois’ $52.8M take from marijuana sales exceeds what state projected
Illinois collected almost $52.8 million in tax revenue during the first six months of recreational marijuana sales, marking a bright spot among the state’s pandemic-scarred finances. Recreational marijuana sales have continued to rise throughout the pandemic, while many other retailers saw sales drop off. Dispensaries set a monthly record in June, when they sold $47.6 million worth of […]
Chicago marijuana dispensaries close indefinitely
The bulletproof security glass inside Mission South Shore marijuana dispensary was supposed to be impenetrable. But it gave way Sunday afternoon to looters armed with crowbars and baseball bats. They smashed through the front door first, then hacked away at the security glass, said Kris Krane, president and co-founder of 4Front Ventures, which owns the […]
Illinois legal weed sales during the first full month of coronavirus lockdown amount to almost $37.3 million
Legal weed sales during Illinois’ first full month of coronavirus lockdown amounted to almost $37.3 million, surpassing every month of recreational marijuana sales in Illinois so far except January. Dispensaries have been allowed to stay open during Gov. J.B. Pritzker’s stay-at-home order, which has been extended through May. But operators have had to adapt, implementing online […]
