|
 Recreational marijuana in Illinois
set record sales for nine consecutive months, up until January and February
2022.
February’s haul of $114 million was the lowest since last March. Price matters
to consumers, and Illinois has some of the highest marijuana taxes in the
nation. Those high prices potentially push people to illicit sellers.
New Frontier data estimated illegal sales in Illinois reached
$2.23 billion for 2021 compared to $1.37 billion in legal sales.
The illegal market will continue to thrive as long as consumers face daunting
price tags, said Andy Seeger, a cannabis industry analyst.
Lower costs for consumers will depend on state leaders “getting out of the way
and really allowing competition,” Seeger said.
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A botched licensing process that spurred multiple lawsuits has prevented many
applicants from getting their permits.
“Right now it’s just a captive market in which the ability to grow … is just
really monopolized,” Seeger said.
It’s a far cry from the promises Gov. J.B. Pritzker made when recreational sales
started in 2020. Back then Pritzker claimed Illinois would have the most diverse
cannabis industry in the nation.
On March 15, more than two years after legal marijuana sales started, Pritzker
administration officials announced new rules to simplify the dispensary license
application process.
Despite the new rules, high prices will still incentive consumers to buy from
the illegal market, where marijuana is unregulated and could be laced with more
dangerous substances. |
