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New Jersey became a billion dollar cannabis market last year.
The state’s legal weed businesses raked in a total of $1.004 billion in 2024, a 25% increase from the $800 million take in 2023, according to Cannabis Regulatory Commission figures.
When Gov. Phil Murphy signed the law establishing adult use cannabis as an industry in New Jersey four years ago, many observers noted it would take a couple of years for the state to see revenue in the billions.