Illinois Governor Touts Record $2 Billion In Marijuana Sales In 2024, Celebrating ‘Thriving’ Industry Despite Intoxicating Hemp Market Concerns

The governor of Illinois is touting the state’s record-setting $2 billion in marijuana gross sales in 2024, applauding the “thriving” business whereas criticizing the “proliferation of the unregulated intoxicating hemp market.”

Of the $2 billion, a document $1.722 billion got here from adult-use hashish gross sales. That’s greater than double the primary yr of gross sales following the market launch in 2020. And final yr’s complete translated into over $490 million in marijuana tax income for the state.

“The numbers are clear: 5 years after we legalized grownup use hashish in Illinois, we’re seeing the financial impression of a thriving hashish business,” Gov. J.B. Pritzker (D) stated on Thursday.

He added that “our first-in-the-nation equity-focused hashish business is the results of my administration’s insurance policies, which prioritized repairing the harm performed by the failed Warfare on Medication, creating extra good-paying jobs, and constructing a secure, equitable, and affluent enterprise sector—making Illinois by far the nationwide chief in various possession for this business.”

However the governor stated whereas he’s “happy with the continued success of hashish gross sales and revenues in Illinois, the market is being undermined by the proliferation of the unregulated intoxicating hemp market.”

“Licensed hashish companies adjust to strict state laws, pay important taxes, and endure rigorous product testing,” he stated. “This unchecked market not solely undercuts authorized operators but in addition places customers in danger by flooding the business with untested, doubtlessly unsafe merchandise.”

Pritzker has been vocal about his considerations over the unregulated hemp market, and he stated final month that he was “tremendously disenchanted” {that a} invoice to impose restrictions on the sale of intoxicating hemp merchandise that he advocated for stalled out within the legislature.

Lt. Governor Juliana Stratton (D) added that that “continued success of grownup use hashish gross sales highlights how equity-focused insurance policies can create significant change.”

“These gross sales enable us to reinvest in communities disproportionately impacted by the warfare on medication, fostering progress and creating pathways to a extra inclusive and affluent Illinois,” she stated.

In the meantime, a repot from the state Hashish Regulation Oversight Workplace that was launched late final yr detailed how 2024 noticed the single-largest enlargement of shops since Illinois started opening medical marijuana dispensaries, with 82 new retailers opening for enterprise—a lot of that are owned by social fairness licensees.

“As extra dispensaries open their doorways, that elevated competitors results in elevated availability of product and higher costs for customers—simply as we anticipated,” Hashish Regulation Oversight Officer Erin Johnson stated on Thursday. “We sit up for the continued progress and success of Illinois’ hashish business, resulting in additional financial improvement and public consciousness and assist for accountable consumption.”

Individually in Illinois, the state Supreme Courtroom in September dominated that the odor of burnt marijuana alone can’t be lawfully utilized by police as possible trigger to conduct a warrantless car search.

Final summer time, officers additionally introduced the award of $35 million in grants to 88 native organizations, utilizing funds generated from taxes on adult-use marijuana gross sales to assist neighborhood reinvestment efforts. Since launching this system, Illinois has awarded over $244 million in marijuana revenue-funded grants to that finish.

The governor has often joked about the truth that Illinois is benefiting from the dearth of authorized entry in surrounding states. Going again to his State of the State tackle in 2020, he stated out-of-state {dollars} will find yourself coming to Illinois and paying taxes for hashish merchandise that bolster the state’s coffers.

Individually, state senators final yr took up a invoice that might have legalized psilocybin and allowed regulated entry by means of service facilities, the place adults might use the drug in a supervised setting.

Picture courtesy of Mike Latimer.