Illinois’ cannabis legalization law is set to go into effect in January and will usher in what proponents hope is the most socially just legalization framework in the nation. “We’ve spent decades decimating communities and destroying lives with the war on drugs,” said State Representative Kelly Cassidy. “For us it was really more about equity and ensuring that we are repairing harm.” The state’s law allocates resources to minority communities and areas of the state that have been impacted the most by past crackdowns on marijuana. It also attempts to reduce the barrier to entry for entrepreneurs in hopes Illinois can lead the charge toward a more equitable cannabis industry, by giving them a leg up to compete for 75 licenses the state will begin to issue in May. “This industry has the potential to be a generational wealth-building opportunity,” said Brian Scruggs, an entrepreneur in the sector. Yet it remains to be seen if Illinois’ law will allow affected communities to capture a share of the cannabis wealth, and if it can, as Cassidy put it, address the “buffet of problems” associated with marijuana justice.

Share:
More In Business
Klarna shares jump 30% on Wall Street debut
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Load More