Illinois Medical Cannabis Business & Marijuana Legal News


Illinois marijuana retailers in potential $2B market expect long lines, possible supply shortages as adult-use sales kick off Jan. 1

Illinois cannabis retailers are thrilled at the prospect of large crowds of customers and high demand at 6 a.m. CT New Year’s Day, which is when state lawmakers said several stores can begin adult-use recreational sales. Anticipating long lines and cold temperatures, companies are going the extra mile to keep customers happy. One business, for […]

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Chicago will not delay adult-use cannabis sales

Chicago Mayor Lori Lightfoot on Wednesday helped end a short-lived attempt by the City Council’s Black Caucus to delay sales of recreational marijuana in the city for six months until African Americans could reap more of the financial rewards from legal cannabis, the Chicago Sun-Times reported. A council committee had narrowly voted to delay launching […]

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Chicago considers delaying recreational cannabis sales

Sales of adult-use marijuana in Chicago would begin July 1, not Jan. 1, like the rest of the state, if an ordinance passed by a City Council committee is adopted. The committee voted to delay the sale of rec marijuana at the request of black aldermen seeking more diversity among cannabis store owners, the Chicago […]

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Chicago mayor floats recreational marijuana idea for minorities

Chicago Mayor Lori Lightfoot is pushing a social equity program in which the city would use up to $15 million in seed money to grow its own recreational marijuana in a “cooperative cultivation center.” Under the proposal, minorities could invest in the co-op with either a small amount of cash or sweat equity, the Chicago […]

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Cannabis firm Cresco Labs inks $50 million sale-leaseback deal

Chicago-based Cresco Labs, a multistate marijuana operator, closed a $50 million sales-leaseback deal in Illinois, weeks before adult-use marijuana becomes legal in the state on Jan. 1. Cresco sold its recreational and medical cannabis cultivation and processing facility in Lincoln, Illinois, to GreenAcreage Real Estate Corp., a real estate investment trust. The company signed a […]

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MJBizCon 2019: Cannabis industry recognizes year’s challenges as it looks forward to longer-term growth

LAS VEGAS – Members of the cannabis industry’s brain trust used the first day of MJBizCon to share predictions for 2020 and describe how changing attitudes in the United States might affect future marijuana legalization efforts – plus more coverage from this week’s conference in Las Vegas. In his keynote presentation Wednesday, Chris Walsh, president and […]

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Vaping regulations

Two Massachusetts agencies agreed to share information with each other to determine if six probable cases of vaping-related lung illnesses are linked to state-licensed marijuana retailers.

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marijuana social equity

Some African-American aldermen in Chicago are concerned that the legalization of recreational marijuana in Illinois on Jan. 1 will give white retail store owners an advantage.

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Why some marijuana firms are rebranding in response to cannabis industry’s changing business climate

As the cannabis industry has moved to shed the “stoner” stereotype many have held of its consumers, several marijuana businesses are rebranding themselves via name changes and other steps to try to reflect the companies they’ve become.  Whether the decision revolves around an initial public offering (IPO), including Akerna’s, or the acquisition of multiple dispensaries such […]

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Cresco Labs, Origin House revamp cannabis merger as value falls more than 50% and close delayed

Cresco Labs, a Chicago-based multistate cannabis operator, and Origin House are overhauling the terms of their merger announced earlier this year, as falling cannabis stock prices and other factors slashed the value of the transaction in half to approximately $400 million. Because of the revised terms, the transaction also will now not close until approximately […]

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Experts suggest recent marijuana industry layoffs are part of a reality check; more job cuts expected

Anyone paying attention to cannabis business headlines has noticed what on its face seems a disturbing trend: At least half a dozen large companies recently announced layoffs, perhaps suggesting there’s financial trouble surrounding the marijuana industry. But those headlines don’t reveal the full story, several industry watchers told Marijuana Business Daily. Rather, recent layoffs are a […]

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