This is how Chicago mobsters describe business activities that are not illegal. Gangsters often invest ill-gotten monies into legitimate businesses, which, in turn, generate what they consider to be legitimate profit. Such business are referred to being "on the legit" (despite being an essential part of a larger money-laundering enterprise).
Guy #1: We'll fill the joint with high-line Spanish broads, and keep it on the legit.

Guy #2: Ok, buddy.
by Davey Gagunga April 8, 2011
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a shortened form of the word "legitimate". however, this term is nowhere near the real meaning of "legitimate", since it is commonly used to describe things as cool or extremely awesome.
guy 1: did you go to the party last night?
guy 2: uhmm no
guy 1: oh you missed out. it was legit.
by bridgeyy11 October 14, 2011
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When your friend nails a sweet scooter trick, it is called legitness
by Phil0sopher June 3, 2015
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When something is so legit (real, authentic) that the only word that could possibly describe it is "legitness".
"yo dats only $20 a gram"

"for realz??? I gotchu bro, dats straight legitness right there, you the man"
by Homeless Chicken August 27, 2017
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Short for "legitimate". NOT short for "legitimately" which is a totally different word. The difference is roughly the same as between "good" and "well" – in case you cared. An extremely popular yet badly understood filler word.
Melvin: "Bill Murray must be legit the most underrated comedian ever!"
Sparky: "IKR? He could've been literally one of the greatest, though."
by Burt Milhorse Eriksson April 11, 2021
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A word used to describe something that was super duper cool. Originally popularized in a Vine, this word has become a common part of many young people's vocabularies.
by guinnypiggles December 25, 2017
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When you hear something that defies a normal "That's Cool". It is typically found in use by teenagers and hipsters.
John- "Did you hear about the Semi truck that did a back flip yesterday?"

James- "Yeah, dude. I saw it in a video online. THAT'S LEGIT!"
by Na'vi Lover June 4, 2014
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