Illinois issues 185 new recreational marijuana retail licenses

Illinois regulators announced Friday the initial winners of 185 new recreational marijuana retail licenses. The licenses, issued by the Illinois Department of Financial and Professional Regulation (IDFPR), mean the state's retail marijuana market will more than double, as there are currently only 110 adult-use marijuana stores in operation. That said, the new licenses are only conditional and the winners are not yet fully approved to begin selling, according to a statement from the IDFPR. The agency said licensees have 180 days to obtain IDFPR approval, during which time they must: choose a location for their store. Send floor plans to the agency for approval; submit fingerprints of key management personnel to the state for record; and pay a licensing fee.

Information source: mjbizdaily.com/