Latest news with #IllinoisDepartmentofRevenue
Yahoo
07-02-2025
- Business
- Yahoo
Illinois cannabis sales top $2B, set new record
CHICAGO, Ill. (WTVO) — Five years after Illinois legalized recreational use of marijuana, the state has announced a record $2 billion of cannabis product was sold in 2024, a 2.5% increase over 2023. The Illinois Department of Financial and Professional Regulation said medical cannabis sales exceeded $285 million. Sales tax collected at Illinois dispensaries totaled more than $490 million in 2024, according to the Illinois Department of Revenue. 'The numbers are clear: five years after we legalized adult use cannabis in Illinois, we're seeing the economic impact of a thriving cannabis industry,' said Gov. JB Pritzker. 'With $2 billion in record-setting sales and $490 million generated in tax revenue, 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.' The state also said more than $385 million worth of cannabis was purchased by out-of-state residents, where cannabis consumption is illegal. There are currently 244 cannabis dispensaries in Illinois. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
07-02-2025
- Business
- Yahoo
Illinois reports record-breaking cannabis sales in 2024
CHICAGO (WMBD) — For the fourth year in a row, the state of Illinois has seen record-breaking cannabis sales across the state. According to the Illinois Department of Financial and Professional Regulation, dispensaries reported that more than $2 billion worth of cannabis products was sold in 2024. This is a 2.5% increase from 2023. Of those sales, about $1.722 billion was in adult-use cannabis sales and more than $285 million in medical cannabis sales. According to the Illinois Department of Revenue, Illinois collected more than $490 million in sales tax from Illinois cannabis dispensaries. 'The numbers are clear: five years after we legalized adult-use cannabis in Illinois, we're seeing the economic impact of a thriving cannabis industry,' Governor JB Pritzker said. 'With $2 billion in record-setting sales and $490 million generated in tax revenue, 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.' There are currently 244 adult-use cannabis dispensaries in Illinois. Cannabis market sales figures across the state can be tracked here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
