Illinois surpasses $1 billion in cannabis sales in first half of 2024

Illinois surpassed $1 billion in cannabis retail sales in the first half of 2024.

The milestone was reached on July 1, nearly two weeks earlier than last year, Governor JB Pritzker announced Wednesday.

Total cannabis sales for fiscal year 2024 also exceeded $2 billion, up from $1.9 billion and $1.8 billion in fiscal years 2023 and 2022, respectively.

"Illinois has the most equitable cannabis industry in the country and it’s growing and thriving," Governor Pritzker said.

Pritzker attributed the surge in sales to a rise in adult-use cannabis purchases, coupled with his administration's focus on supporting communities disproportionately affected by the War on Drugs. Tax revenue generated from cannabis sales is being used to fund initiatives aimed at economic development, violence prevention, and youth programs in these areas.

Data shows that in-state residents accounted for 81% of cannabis purchases during the first half of 2024. Flower remained the most popular product category (49%), followed by vapes (32%) and edibles (22%).

"More and more cannabis businesses opening their doors means more and more unique products for consumers," said Cannabis Regulation Oversight Officer Erin Johnson.

The state has issued nearly $22 million in forgivable loans to social equity cannabis businesses and anticipates awarding additional dispensary licenses to qualified applicants.

"It is imperative barriers are removed to ensure workforces and industries reflect the diversity of the population," said Illinois Department of Financial and Professional Regulation Secretary Mario Treto, Jr.