Another challenge to the growth of revenue from legal marijuana is the patchwork of local rules. Some Chicago suburbs, including Mount Prospect, Arlington Heights and Naperville, have voted to ban the recreational sales, so-called “opting out.”
Even though illicit sales are projected to dip in Illinois, they will outpace the legal share through 2024, according to projections by BDS Analytics and Arcview Market Research.
“Any money coming into the state is welcome,” said Howard Cure, director of municipal bond research for Evercore Wealth Management, LLC in New York. Illinois has “a load of several billion in unpaid liabilities putting aside pensions. There is no shortage of uses.”
This article was provided by Bloomberg News.