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Recreational marijuana became legal for Illinoisans at the start
of 2020. Since then, Illinoisans have been paying more for their
cannabis than the majority of states where the drug has been
legalized.
According to analysis by the Illinois Policy Institute, cannabis
users pay 89% more on average for their products than the rest
of the U.S. market.
Pritzker was asked about the prices and said the state is making
money.
"We
still have a growing industry, as you know, it is one that I
initiated in 2019 that has brought in almost $450 million to
state and local governments," Pritzker told The Center Square.
"We want to encourage all industries to grow."
Michigan has legal marijuana, and so does Missouri. However,
Pritzker does not worry that the state could lose business to
these neighboring states.
"We are getting almost a third, nearly 30% of the revenue that
we get from the cannabis industry comes from people coming to
Illinois and spending money at dispensaries," Pritzker said.
According to the report, Illinois is the third-largest cannabis
market in the U.S., behind Michigan and California.
Illinois law states that any cannabis-infused product shall be
taxed at a rate of 20% of the purchase price. The tax rate
increases with the potency of the product and can exceed 40% if
local governments tack on an additional 3% tax.
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