Millions in Taxes From Legal Pot Won’t End Illinois’s Woes

Legal recreational marijuana sales may raise hundreds of millions of tax dollars for Illinois within five years but the nascent industry isn’t likely to deliver enough of a windfall to solve the budget woes of the worst-rated U.S. state.

Starting Jan. 1, adults who are 21 and older can purchase cannabis as Illinois becomes the 11th state to legalize recreational pot. With nearly 13 million residents and more than 100 million tourists a year, the state will be the largest adult-use market in the Midwest and annual sales could reach $4 billion when the market matures, according to Cresco Labs ...