Illinois on July 1 reached $1 billion in combined cannabis sales, including more than $850 million in adult-use sales and nearly $150 million in medical cannabis sales. The milestone was achieved nearly two weeks faster than last year.
During the Illinois 2024 fiscal year, total cannabis sales exceeded $2 billion, which represents an increase from $1.9 billion in fiscal year 2023 and $1.8 billion in fiscal year 2022.
In a statement, Gov. JB Pritzker (D) said “Growing sales in 2024 means cannabis tax revenue will continue to play a major role in righting decades of wrongs in the state’s criminal justice system.”
“Illinois has the most equitable cannabis industry in the country and it’s growing and thriving. The increase in total adult-use cannabis sales, combined with the policies my administration is implementing to support communities ravaged by the War on Drugs, highlights how this emerging industry is helping us set a national standard in equity and economic justice.” — Pritzker in a press release
According to Cannabis Regulation Oversight Office data, Illinois consumers made 81% of the total value of purchases through the first six months of 2024, while out-of-state consumers made 19%. Nearly half – 49% – of all cannabis sales in the state were flower, followed by vape products (32%) vape, and edibles (22%), which includes beverages (1.1%).
Tax revenue collected from cannabis sales has led to more than $244 million in R3 Grants for economic development, violence prevention, and youth development in disproportionately impacted communities across the state, according to the Governor’s Office. Revenue also enabled the Illinois Department of Commerce and Economic Opportunity to establish the Illinois Cannabis Social Equity Loan Program to connect people and communities historically impacted by arrests and imprisonment for cannabis offenses with opportunities to participate in the legal cannabis industry. To date, almost $22 million in forgivable loans have been issued to social equity craft growers, transporters, and infusers.
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