The governor of Illinois is touting the state’s record-setting $2 billion in marijuana sales in 2024, applauding the “thriving” industry while criticizing the “proliferation of the unregulated intoxicating hemp market.”
Of the $2 billion, a record $1.722 billion came from adult-use cannabis sales. That’s more than double the first year of sales following the market launch in 2020. And last year’s total translated into over $490 million in marijuana tax revenue for the state.
“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,” Gov. J.B. Pritzker (D) said on Thursday.
He added that “our first-in-the-nation equity-focused cannabis industry is the result of my administration’s policies, which prioritized repairing the damage done by the failed War on Drugs, creating more good-paying jobs, and building a safe, equitable, and prosperous business sector—making Illinois by far the national leader in diverse ownership for this industry.”
But the governor said while he’s “pleased with the continued success of cannabis sales and revenues in Illinois, the market is being undermined by the proliferation of the unregulated intoxicating hemp market.”
“Licensed cannabis businesses comply with strict state regulations, pay significant taxes, and undergo rigorous product testing,” he said. “This unchecked market not only undercuts legal operators but also puts consumers at risk by flooding the industry with untested, potentially unsafe products.”
Pritzker has been vocal about his concerns over the unregulated hemp market, and he said last month that he was “tremendously disappointed” that a bill to impose restrictions on the sale of intoxicating hemp products that he advocated for stalled out in the legislature.
Lt. Governor Juliana Stratton (D) added that that “continued success of adult use cannabis sales highlights how equity-focused policies can create meaningful change.”
“These sales allow us to reinvest in communities disproportionately impacted by the war on drugs, fostering growth and creating pathways to a more inclusive and prosperous Illinois,” she said.
Meanwhile, a repot from the state Cannabis Regulation Oversight Office that was released late last year detailed how 2024 saw the single-largest expansion of stores since Illinois began opening medical marijuana dispensaries, with 82 new retailers opening for business—many of which are owned by social equity licensees.
“As additional dispensaries open their doors, that increased competition leads to increased availability of product and better prices for consumers—just as we anticipated,” Cannabis Regulation Oversight Officer Erin Johnson said on Thursday. “We look forward to the continued growth and success of Illinois’ cannabis industry, leading to further economic development and public awareness and support for responsible consumption.”
Separately in Illinois, the state Supreme Court in September ruled that the odor of burnt marijuana alone cannot be lawfully used by police as probable cause to conduct a warrantless vehicle search.
Last summer, officials also announced the award of $35 million in grants to 88 local organizations, using funds generated from taxes on adult-use marijuana sales to support community reinvestment efforts. Since launching the program, Illinois has awarded over $244 million in marijuana revenue-funded grants to that end.
The governor has frequently joked about the fact that Illinois is benefiting from the lack of legal access in surrounding states. Going back to his State of the State address in 2020, he said out-of-state dollars will end up coming to Illinois and paying taxes for cannabis products that bolster the state’s coffers.
Separately, state senators last year took up a bill that would have legalized psilocybin and allowed regulated access through service centers, where adults could use the drug in a supervised setting.
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Photo courtesy of Mike Latimer.
The post Illinois Governor Touts Record $2 Billion In Marijuana Sales In 2024, Celebrating ‘Thriving’ Industry Despite Intoxicating Hemp Market Concerns appeared first on Marijuana Moment.
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