Cannabis has proven to be extremely lucrative for states with legal markets. In 2021 alone, states collected more than $3.7 billion in recreational cannabis taxes, a 34% jump from the taxes legal states received the previous year. Illinois, which launched recreational cannabis sales in January 2020, has seen impressive sales in recent months. For FY 2022, the state has recorded around $1.5 billion in cannabis sales compared to $1 billion last year.
Illinois collected a total of $445.3 million in taxes from cannabis sales, a nearly 50% increase in revenue compared to the 2021 fiscal year when it…
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