New Jersey’s cannabis industry celebrated a major milestone in 2024, surpassing $1 billion in combined medicinal and recreational sales. This achievement reflects a nearly 25% growth from the previous year’s $800.3 million total, underscoring the robust expansion of the state’s regulated cannabis sector.

A Record-Breaking Year for Cannabis Sales

On December 21, 2024, New Jersey’s cannabis sales officially crossed the billion-dollar mark, reaching a cumulative total of $1,004,826,946. Since the state’s adult-use cannabis market opened in April 2022, the industry has generated over $2 billion in revenue. This rapid growth has been fueled by a steadily increasing number of licensed dispensaries—now exceeding 190 statewide—and rising consumer demand for safe, regulated products.

“The milestones achieved in 2024 reflect the trust consumers place in New Jersey’s regulated cannabis market and the economic potential it holds for businesses of all sizes,” said Christopher Riggs, Acting Executive Director of the New Jersey Cannabis Regulatory Commission (NJ-CRC). “This initial groundwork establishes a platform for future advancements.”

Cannabis Holidays Drive Record Sales

Key cannabis holidays played a pivotal role in boosting 2024’s sales figures. Green Wednesday—the day before Thanksgiving—emerged as the year’s busiest shopping day, with sales hitting $6,003,300. This slightly edged out the $5,811,632 recorded on April 20 (4/20), another significant cannabis holiday. By the end of September 2024, recreational sales had already reached $789.8 million, contributing $43.3 million in tax revenue for the state.

Focusing on Equity and Inclusion

Social equity remains a cornerstone of the NJ-CRC’s objectives. During the third quarter of 2024 alone, Social Equity Excise Fees brought in nearly $1 million, adding to a cumulative total of $6.1 million since 2022. These funds are allocated to support education, economic initiatives, and social services in communities disproportionately impacted by past cannabis prohibition.

“New Jersey’s cannabis market continues to grow because of our commitment to equity, inclusion, and responsible regulation,” said Dianna Houenou, Chair of the NJ-CRC. “We aim to build a marketplace that benefits everyone and sets an example of what a sustainable and equitable industry can achieve.”

About the NJ-CRC

The New Jersey Cannabis Regulatory Commission oversees the state’s cannabis industry, ensuring proper licensing, cultivation, testing, and sales. By prioritizing equity and compliance, the NJ-CRC is shaping a fair and thriving cannabis market for the Garden State.