Jan 2, 2020

Illinois rakes in $3.2 million on first day of legal marijuana sales

A food truck sits outside the Sunnyside Cannabis Dispensary as customers wait in line to buy marijuana, on Jan. 1. Photo: Kamil Krzaczynski/AFP via Getty Images

Illinois' first day of legalized marijuana sales resulted in more than 77,000 transactions, adding up to about $3.2 million, the Illinois Department of Financial and Professional Regulation said Thursday, per NBC's Chicago affiliate.

The big picture: According Chicago's mayor, the city alone is expected to take in nearly $3.5 million in pot tax revenue this year. That figure represents four months worth of revenue because tax collections do not start until September under state law. Illinois is the 11th state in the U.S. to legalize recreational cannabis, with more planning to put the issue on the ballot in 2020.

Go deeper: Illinois governor pardons 11,000 pot convictions ahead of Jan. 1 legalization

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Cannabis firms fuming over exclusion from CES

Photo: Courtesy of Keep Labs

Last year, the big controversy at CES was over an exhibit from a sex toy company. This year, it is cannabis-tech companies that are crying foul.

Why it matters: Although there are a wide range of electronics shown at CES, critics say that whole categories are unfairly excluded.

Go deeperArrowJan 7, 2020

Mattress maker Casper files for IPO

Photo: Rachel Murray/Getty Images for Casper Sleep Inc.

Upstart mattress maker Casper filed Friday for an initial public offering.

Why it matters: This will be the next public market test of a consumer products company that venture capitalists have arguably valued like a tech company.

Go deeperArrowJan 10, 2020

Rural America set to lose political power after 2020 census

Ottawa, Illinois, 2019. Photo: Scott Olson/Getty Images

In most of the 10 states that will likely lose a House seat due to reapportionment beginning in 2022, current demographic trends are poised to shift political power from rural counties to metropolitan counties, according to an analysis by The Hill's Reid Wilson.

Why it matters: Census counts are crucial for determining political representation in the House, and minor changes in population can alter a state's power in Congress for a decade.

Go deeperArrowJan 5, 2020