What's actually causing it
The iliotibial band is a long sheet of connective tissue running down the outside of your thigh, from hip to just below the knee. The usual story is that it slides across a bony bump at the end of the thigh bone and the friction inflames a small sac called a bursa. The anatomy doesn't support that.
Examined in cadavers and on MRI, the band is anchored to the thigh bone by fibrous strands: it can't roll across that bony point at all, and the sense of movement is an illusion created by tension shifting between its front and back fibres as the knee bends 1. No bursa was found in any cadaver, or in the healthy volunteers scanned 1.
Underneath the band sits a mass of fatty tissue with a rich blood and nerve supply: a fat pad whose nerve endings include ones that register pressure 1. In two runners with acute symptoms, the MRI changes appeared in that fat, not the band 1. So the mechanism is compression, not friction: the band presses onto that fat pad as your knee bends and straightens, and the pressure is the pain 1,2.
It's an overuse injury 3. The most common findings in the history are a sudden increase in training volume, hill running (especially downhill) and running on banked surfaces 2. Fatigue compounds it: 20 to 30 minutes of running fatigues the hip muscles enough to allow up to 5° more inward thigh movement 2, which is much of why the pain arrives at the same point in a run.
On hip weakness: the honest version. Hip control is where the treatment evidence points, but the causal story is murkier than most clinic pages admit. The literature is contradictory or inconclusive on whether weak hips actually cause ITB syndrome: one well-known study found significant hip abduction weakness in affected runners; another paper, titled "Hip abductor weakness is not the cause for iliotibial band syndrome", found none 6. What holds up is movement, not strength: runners who later developed it ran with larger hip adduction angles 6. Being female may also be a predisposing factor 6.