The Illinois cannabis industry has reached a historic milestone, with sales surpassing $2 billion in 2024—marking four consecutive years of record-breaking revenue. As the state celebrates five years since legalizing adult-use cannabis, Governor JB Pritzker’s administration is spotlighting the economic impact, equity initiatives, and future challenges within the industry.
Breaking Records: The $2 Billion Boom
According to the Illinois Department of Financial and Professional Regulation (IDFPR), cannabis dispensaries in the state collectively reported $2.007 billion in sales in 2024, representing a 2.5% increase from the previous year. This includes:
- $1.722 billion in adult-use cannabis sales.
- $285 million in medical cannabis sales.
- 56.3 million cannabis items sold—an all-time high, surpassing 2023’s record by over 13%.
Additionally, Illinois collected more than $490 million in cannabis-related taxes in 2024, continuing to fund reinvestment programs for communities disproportionately impacted by the War on Drugs. According to the Illinois Department of Revenue, these tax collections contribute significantly to state programs supporting public health, education, and community development.
Governor Pritzker on Illinois’ Cannabis Leadership
“The numbers are clear: Five years after we legalized adult-use cannabis in Illinois, we’re seeing the economic impact of a thriving cannabis industry,” Governor JB Pritzker stated. He emphasized that Illinois remains the national leader in diverse cannabis ownership, thanks to his administration’s equity-focused policies.
“We’ve generated $2 billion in record-setting sales and $490 million in tax revenue, all while prioritizing repairing the damage done by the failed War on Drugs,” Pritzker added. “This is about creating good-paying jobs and building a safe, equitable, and prosperous business sector.”
However, the Governor also raised concerns about unregulated intoxicating hemp markets that are undermining licensed cannabis businesses. These markets operate outside of Illinois’ strict regulations, do not undergo product testing, and pose a risk to consumers by selling potentially unsafe products.
Equity-Focused Growth & Economic Development
Lieutenant Governor Juliana Stratton praised the success of Illinois’ cannabis equity initiatives, which continue to reinvest cannabis tax revenue into communities that were disproportionately targeted by the War on Drugs.
“The continued success of adult-use cannabis sales highlights how equity-focused policies can create meaningful change,” Stratton said. “These sales allow us to foster growth, create jobs, and build a more inclusive and prosperous Illinois.”
As of 2024, 244 adult-use dispensaries are operating in Illinois, including 134 social equity dispensaries. An additional 121 applicants from previous social equity lotteries are in the process of receiving full dispensary licenses.
Adult-Use Sales Continue to Grow
Illinois residents accounted for $1.33 billion in adult-use cannabis purchases, while out-of-state visitors contributed over $385 million in sales. The state’s robust tourism industry has helped drive demand, making Illinois a top cannabis market in the country.
“As additional dispensaries open their doors, competition leads to greater product availability and better prices for consumers,” said Erin Johnson, Illinois’ Cannabis Regulation Oversight Officer.
The Future of Illinois’ Cannabis Industry
With more dispensaries set to open in the coming years, Illinois cannabis businesses are poised for continued expansion.
“The past five years have transformed Illinois’ economy and cannabis industry,” said Mario Treto, Jr., Secretary of IDFPR. “We expect this growth to continue, bringing more opportunities for workers, business owners, and communities alike.”
As Illinois moves forward, balancing expansion with regulation remains a key focus. With a strong commitment to social equity and economic reinvestment, the state is setting an example for the future of cannabis legalization across the country.
