There are growing issues of trust with how Illinois is managing its legal cannabis industry. Illinois legalized adult-use cannabis beginning in January 2020. Since then, the state’s limited number of dispensaries have sold nearly $2.3 billion worth of cannabis products.
Taxes collected by the state, which can be in excess of 40% depending on the potency, total nearly $680 million. Local governments can tack on even more taxes.
Cannabis Business Association of Illinois Executive Director Pam Althoff said there’s an oversupply of the product because of ongoing litigation challenging the application scoring process for new dispensaries.
“The next tranche of dispensary licenses that were supposed to be awarded a year ago still are in the legal system and they have a temporary restraining order placed up on them so there are no new dispensaries,” Althoff told a Springfield radio station.
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