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New Jersey’s cannabis market hit a milestone Dec. 21: surpassing $1 billion in combined medicinal and recreational cannabis sales in 2024. 

The New Jersey Cannabis Regulatory Commission announced Dec. 23 that the tally marks a nearly 25% increase from the previous year’s total of $800.3 million. 

“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,” CRC acting Executive Director Christopher Riggs said in a statement. “This momentum sets a solid foundation for continued success in the years ahead.” 

The CRC also noted single-day recreational cannabis sales records, including: 

• Green Wednesday (the day before Thanksgiving Day): $6 million 
• 4/20 (an unofficial holiday celebrating cannabis culture): $5.8 million 

As of the end of the last official quarterly report in September, recreational cannabis sales had totaled nearly $790 million, generating tax revenue of $43.3 million, the CRC added. 

Since the launch of adult-use cannabis sales in April 2022, New Jersey’s cannabis market has generated more than $2 billion in total revenue. The number of licensed dispensaries now totals more than 190 locations across the state.

The numbers come on the heels of two major CRC announcements. During its Dec. 12 meeting, the regulatory board voted to raise the state’s social equity excise fee and also launched the application process for consumption lounges.