Illinois Governor Bruce Rauner is praising the record $2 billion marijuana sales that will be made in the state by 2024. He applauds the “thriving” cannabis industry, while criticizing “the proliferation of unregulated intoxicating hemp market.”
Out of the total $2 billion in sales, an unprecedented $1.722 bn came from cannabis for adult use. It’s almost double what was sold in the year after the legalization of cannabis. Last year, the total marijuana tax revenues for the state amounted to over $490 millions.
The numbers speak for themselves: Five years after Illinois legalized cannabis use by adults, the cannabis industry is booming. J.B. Pritzker, a Democrat from Illinois, said this on Thursday.
He added that “our first-in-the-nation equity-focused cannabis industry is the result of my administration’s policies, which prioritized repairing the damage done by the failed War on Drugs, creating more good-paying jobs, and building a safe, equitable, and prosperous business sector—making Illinois by far the national leader in diverse ownership for this industry.”
He said that, while pleased with Illinois cannabis revenues and sales continuing to grow, the growth of unregulated intoxicating marijuana hemp is threatening the Illinois market.
He said that “licensed cannabis businesses must comply with state laws, pay substantial taxes and go through rigorous testing of their products.” The uncontrolled market is not only a threat to legal businesses but puts the public at risk as it floods the industry with potentially dangerous products.
Pritzker is vocal in his concern over an unregulated hemp industry. He said that last month he was “tremendously dismayed” when a bill he pushed to restrict the sale of hemp-based intoxicants failed in the Illinois legislature.
Lt. Governor Juliana Stratton (D) added that that “continued success of adult use cannabis sales highlights how equity-focused policies can create meaningful change.”
These sales will allow us to invest in the communities that are disproportionately impacted. This growth can be used to create pathways for a more inclusive, prosperous Illinois.
Meanwhile, a repot from the state Cannabis Regulation Oversight Office that was released late last year detailed how 2024 saw the single-largest expansion of stores since Illinois began opening medical marijuana dispensaries, with 82 new retailers opening for business—many of which are owned by social equity licensees.
“As additional dispensaries open their doors, that increased competition leads to increased availability of product and better prices for consumers—just as we anticipated,” Cannabis Regulation Oversight Officer Erin Johnson said on Thursday. “We are looking forward to Illinois cannabis’s continued growth, which will result in further economic development as well as public awareness of and support for responsibly consumed marijuana.”
Separately in Illinois, the state Supreme Court in September ruled that the odor of burnt marijuana alone cannot be lawfully used by police as probable cause to conduct a warrantless vehicle search.
Officials announced last summer that $35 million would be awarded to 88 community organizations. This money came from the taxes generated on sales of adult-use cannabis. Since launching the program, Illinois has awarded over $244 million in marijuana revenue-funded grants to that end.
In his State of the State address in 2020, the governor joked that Illinois benefits from states not having legalized cannabis. Going back to his State of the State address in 2020, he said out-of-state dollars will end up coming to Illinois and paying taxes for cannabis products that bolster the state’s coffers.
Separately state senators took on a bill last year that would have allowed adults to use the drug under supervision in service centers.
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Mike Latimer provided the photo.