Illinois Cannabis Revenues Down 13% Despite More Items Sold

Cannabis sales revenues in Illinois declined 13% last year to $1.5 billion, according to state data outlined by the Chicago Tribune. Despite the revenue slump, the number of cannabis items sold in the state spiked to 58 million in 2024, which reflects lower overall prices.  

When adult-use cannabis sales launched in the state in 2020, the average price per ounce of flower was more than $400; by the end of last year, the average price was about $167, the report says. 

In 2025, Michigan’s cannabis market experienced a similar trend with retailers selling 260,000 more pounds of cannabis in 2025 than in 2024, but sales totaling about $3.17 billion – $113 million less than the 2024 sales total.   

According to Illinois’ 2025 Annual Cannabis Report, the state’s cannabis industry counts about 9,000 dispensary employees licensed statewide, and nearly 8,000 more in cultivation operations. Dispensary taxes generated $438 million for fiscal year 2025, according to the report. 

Last year, state officials indicated they would pause the issuance of new cannabis industry licenses as they near the 500-license cap in order to give current operators time to mature. 

Chicago lawmakers recently sought to ban most hemp-derived THC products from sale in the city – which may have helped bolster licensed adult-use cannabis sales – but Mayor Brandon Johnson last week vetoed that bill worried about “potential negative impacts” of a “prohibition-style ban.”