Illinois Department of Financial and Professional Regulation Archives - Cannabis Business Executive - Cannabis and Marijuana industry news

Wisconsin residents spent estimated millions of dollars buying weed in Illinois last year

Wisconsin residents are choosing to spend their hard-earned cash in Illinois, specifically on weed. The Illinois Department of Financial and Professional Regulation estimates the state made $36.1 million in tax revenue last year from Wisconsinites traveling across state lines to…

Illinois’ first social equity-licensed marijuana store to open next week in Chicago’s River North

November 10, 2022
AggregatedNews
Illinois
0 Comments

What state officials say would be the first social equity-licensed marijuana store in Illinois is scheduled to open next week in Chicago’s River North area. Green Rose Dispensary is soon to open on the site of the old Carson’s Ribs…

Illinois recreational pot sales top $1 billion, blowing past last year’s totals with two months left in 2021

November 3, 2021
AggregatedNews
Illinois
0 Comments

Recreational marijuana sales in Illinois surpassed $1 billion last month, blowing last year’s 12-month total sales of $669 million out of the water. October recorded over $123 million in sales of recreational pot. That pushes the year-to-date total for 2021…

Illinois to Record $1 Billion Marijuana Sales by Year’s End, Surpassing Liquor

llinois is set to record more than $1 billion in sales of adult-use marijuana products this year, with first quarter cannabis tax revenue already surpassing that of alcohol. The state of Illinois, whose lawmakers are eyeing bankruptcy options amid a…

Illinois is on pace to sell over $1 billion in marijuana this year. Here are the February totals.

The second year of recreational marijuana sales in Illinois is off to a fast start. Through February, the state generated nearly $170 million in recreational sales, more than double the total from the first two months of 2020, according to the…

Illinois marijuana license finalists file lawsuit over second-chance applications

Investors who won a chance for a license to sell recreational marijuana in Illinois have filed a lawsuit asserting it’s illegal to give other applicants a second chance. The legal action sets up a potential court battle over when to…

Illinois recreational marijuana sales hit record of nearly $68 million in September

The recreational weed business keeps growing in Illinois, with the state’s adult use cannabis dispensaries generating nearly $68 million in sales during September. The new sales record, reported Monday by the state, tops August sales by nearly $4 million. It…

Ex-pot regulator, now on Cook County Bd., offered paid help to weed shop hopefuls

Bridget Degnen was among multiple ex-state employees who have sought to cash in as officials award the next round of highly lucrative pot shop licenses. After serving as one of Illinois’ top cannabis regulators, Cook County Commissioner Bridget Degnen pitched…

Governor’s team to meet to address complaints about marijuana licensing process in Illinois

September 17, 2020
AggregatedNews
Illinois
0 Comments

Amid a flurry of complaints that the marijuana licensing process is broken, Gov. J.B. Pritzker’s office announced Wednesday that his team will meet with those affected to address the issue. “The Governor’s office is currently working to schedule meetings with…

Finalist for Illinois marijuana dispensary licenses also works for firm that graded applications

September 10, 2020
AggregatedNews
Illinois
0 Comments

Hamd Kamal is a risk management consultant for KPMG, which is being paid nearly $4.2 million through a no-bid contract with the state to evaluate applicants. An employee of the global accounting firm that was awarded a no-bid contract to…

Lawsuit seeks to delay cannabis license lottery, alleges state picked 21 ‘politically-connected insider companies’

September 9, 2020
AggregatedNews
Illinois
0 Comments

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…

Illinois: 75 cannabis shop licenses to be awarded in lottery that includes just 21 applicants; losing firms ‘shocked’

September 4, 2020
AggregatedNews
Illinois
0 Comments

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…

Illinois marijuana stores told to let medical patients buy more than recreational customers under new state guidelines

February 8, 2020
AggregatedNews
Illinois
0 Comments

Marijuana stores should take concrete steps to prioritize medical patients over recreational customers, state regulators said Friday. Cannabis dispensaries should keep one sales window open for medical patients, may not reserve products for recreational customers, and must allow medical patients…

Customers bought nearly $40 million in recreational marijuana during the first month of sales in Illinois

February 4, 2020
AggregatedNews
Illinois
0 Comments

Customers spent more than $39.2 million on recreational marijuana during the first month of legal weed sales in Illinois, and about a quarter of that came from out-of-state residents. Sales to Illinois residents totaled more than $30.6 million, according to…

You can apply to run a recreational pot shop in Illinois starting Tuesday — but hurry

December 10, 2019
AggregatedNews
Illinois
0 Comments

State regulators will start accepting applications Tuesday for the next round of licenses to operate recreational pot shops in Illinois. Applications will be accepted until Jan. 2 — the day after recreational sales kick off — and up to 75 conditional…