New Jersey’s cannabis market surpassed $1 billion in combined medicinal and recreational cannabis sales in 2024, marking a nearly 25% increase from the previous year’s total of $800,279,300, according to the NJ Cannabis Regulatory Commission (NJ-CRC).
Sales hit the billion-dollar mark on Saturday, December 21, ending the day at $1,004,826,946.
Since the start of adult-use cannabis sales in April 2022, NJ-CRC said New Jersey’s cannabis market has generated more than $2 billion in total revenue. Sales have been bolstered by an expanding number of licensed dispensaries—now totaling more than 190 locations across the state—and a steady increase in demand.
“We are proud of the remarkable growth achieved in 2024, which highlights the growing trust consumers have in New Jersey’s regulated cannabis market and the economic opportunities it provides for businesses of all sizes and classes,” NJ-CRC acting executive director Christopher Riggs said in a statement. “This momentum sets a solid foundation for continued success in the years ahead.”
New Jersey’s Recreational Market Thriving
In 2024, recreational cannabis sales hit historical highs during the 4/20 and Green Wednesday cannabis holidays, according to NJ-CRC. The biggest single day of statewide sales, and the busiest cannabis shopping day, was on Green Wednesday – the day before Thanksgiving Day.
NJ-CRC noted that sales on Green Wednesday totaled $6,003,300, slightly surpassing 4/20 sales of $5,811,632. As of the end of the last official quarterly report in September, recreational cannabis sales had totaled $789,848,253, generating tax revenue of $43,290,543.
“The continued growth of New Jersey’s cannabis market reflects our dedication to creating a marketplace that benefits everyone—consumers, businesses, and communities alike,” said NJ-CRC chair Dianna Houenou in a statement. “By prioritizing equity and inclusion and regulatory compliance, we are setting the standard for what a thriving, responsible cannabis industry should look like.”
