5 Best States to Start a Cannabis Business

2. Illinois

Insider Monkey Score: 2.4

Average Monthly Revenue: 143.9m

Illinois presents a burgeoning cannabis market since the legalization of recreational cannabis in 2019. While the market took a few years to gain momentum, ample room for new businesses still exists. The lengthy and competitive application process acts as a filter, narrowing down potential competition. The state issues licenses annually, providing ongoing opportunities. While Chicago remains a focal point due to its population density, the need for additional retail locations throughout Illinois persists.