* Crain’s has a story up entitled “Jim Belushi nudges Pritzker to lower weed taxes”…

Jim Belushi, the actor and comedian whose latest role is gentleman cannabis farmer and entrepreneur, says he gave Gov. J.B. Pritzker a friendly nudge about taxes on weed.

The state tax rate has long been a hot topic in the weed industry, and Belushi addressed it during the Cannabis Innovation Summit yesterday at startup incubator 1871.

“I had a conversation with Gov. Pritzker, who I really think is on our side. He’s a good guy,” Belushi said. “I said, ‘Last year, you guys collected $417 million in cannabis taxes, and you collected $207 million in liquor taxes. There’s a lot more liquor stores and bars than there are dispensaries.’ ”

I asked Pritzker spokesperson Jordan Abudayyeh if the governor supports a cannabis tax cut. Her answer…

No

Here’s how cannabis taxes are distributed…

• 2% to public education and safety campaigns
• 8% to the Local Government Distributive Fund, for prevention and training for law enforcement
• 25% to the Recover, Reinvest, and Renew (3R) Program
• 20% to mental health services and substance abuse programs
• 10% to pay unpaid bills
• 35% to the General Revenue Fund

This is not your usual tax. Lots of vital local programs directly depend on it.

…Adding… Belushi’s argument just doesn’t hold up…

Illinois’ adult-use cannabis sales for March soared to $148.9 million, marking a 9.81% increase from February’s $135.6 million, according to the latest figures released by the Illinois Department of Financial and Professional Regulation (IDFPR). The combined total of adult-use and medical cannabis sales reached $174.8 million.

This growth stands as the second-highest monthly total since the state legalized cannabis in 2020 and is part of a consistent upward trend, with the number of items sold rising by 11.33% to more than 4 million in March from 3.6 million in February. While the IDFPR data signals robust demand from both in-state and out-of-state residents, a closer analysis reveals a decreasing trend in purchases by out-of-state residents.

The upward trend is not merely a monthly spike but signifies broader growth within the Illinois cannabis market. Year-over-year, adult-use cannabis sales surged by 10.45% from March 2023’s $134.8 million, indicating a maturing market and potentially expanding consumer base.

* Meanwhile, CBS 2 has a story on sports betting taxes…

A battle has been brewing over sports betting in Illinois.

On one side, Gov. JB Pritzker is trying to more than double taxes on the revenue from bets won by sports betting operators. On the other, the betting companies are now asking their customers to get involved to stop it.

Companies like DraftKings, FanDuel, and BetMGM have all come together to form the Sports Betting Alliance. The competitors are united against Pritzker’s proposed tax hike – which he estimates would generate an additional $200 million for the state. They have sent emails to users urging them to write to their legislators and oppose the tax hike. […]

Sports betting companies said if approved, higher taxes would mean worse odds, and fewer promotions for users – which they warn could fuel the illegal market. The companies also warn the tax hike may drive all but the top three sportsbooks out of Illinois.

The “adjusted sports wagering revenue” tax is on industry profits. And even though New York has a 50 percent tax (way higher than the proposed 35 percent tax here), it has 9 sports betting companies.

Maybe run fewer TV ads?