New Mexico’s legal marijuana market sales have topped $1 billion in less than two years since the introduction of the adult-use market. Those figures include medical and recreational marijuana sales.
According to recent data released by the New Mexico Regulation & Licensing Department (NMRLD), this amount includes $678.5 million from adult-use cannabis across approximately 15.7 million transactions and $331.6 million from medical marijuana sales through around 6.5 million transactions.
The record-breaking sales figure is based on the latest monthly cannabis transaction data provided by the NMRLD, which also noted that February saw $35.7 million in recreational sales and $12.3 million in medical sales.
As of February, there are 1,050 retail marijuana outlets operational within the state.
December 2023 marked a record month for New Mexico’s adult-use cannabis market, generating $37.5 million in sales. A significant portion of the state’s cannabis market revenue is attributed to tourists, particularly those coming from Texas, due to its proximity and the legal restrictions in their home state.
Albuquerque leads in recreational marijuana sales with a total of $202.5 million. Following closely are Sunland Park and Las Cruces, both near the El Paso, Texas border, with cumulative recreational sales of $57.4 million and $45.4 million, respectively, highlighting the influence of cross-border shopping on New Mexico’s market.
That is a lot of cash.
Besides ending up in MLG’s Gucci bag, perhaps the revenue could be spent to actually educate our youth.
It could also be spent to kick out the Cartels who are here pushing Fentanyl and human trafficking across our interstates.
Or, we could even find a solution to provide ways for farmers to farm, rather than not farm. Which is the current go-to BTW.
Actually all drug sales are illegal. The progressives only enforce Federal Law when it is in their interest like abortion. Federal law makes all drugs except alcohol illegal. It is dangerous and inconsistent that law makers and the legal system picks and chooses what laws to enforce. Just like what they are doing to President Trump.
Cannabis, an herb, has grown wild throughout the planet for millennia. It should never have been a prohibited plant. Regulate processing of nature into drugs, if you feel you must have that control.
And the taxes collected on those sales goes to none of us . Unpaved roads infrastructure local projects?
What’s the end goal for this massive overdose of control?
In my mind, this is not something to celebrate. Marijuana is a gateway drug and we don’t need to be encouraging people to partake. I haven’t seen statistics on NM but CO has seen a significant increase in impaired driving instances. In addition to these “legal” sales of drugs, I wonder how much money has changed hands in “illegal” sales of marijuana.
And this is the biggest reason NM is dead last in everything but crime and is a total welfare state. Now the marxist midget is raising your gas taxes .50 cents a gallon. I hope you don’t live very far from a dispensary because you are probably going to have to walk there. This is just going to create more government agencies ie. more waste. More problems with neglected children and more far left judges. What a bunch of idiots we have in the legislature. Clown world!
Since the little troll got her wish and pushed through the legalization of cannabis, how about taking some of the windfall and giving us a BREAK at the pump instead of taxing us an additional 50+ cents a gallon. We can’t afford this. Why do the stupid people in this state keep voting for these self serving criminals?
1 BILLION! And it’s still not enough, so they steal more $$$ with a 50 cent gas tax that will only hurt the PEOPLE of NM? Thank god I left that sorry state run by crooks!
Great comments except for Gloria’s pushing the fake narrative that cannabis is natural herb and has been grown for thousands years…BS!! The current marihuana that our NM kids now have more accesible than candy (there are more “dispensaries” that any kind of other stores) It’s NOTHING like it was decades ago, it’s way more concentrated and proven to mess up consumers brain to the point of schizophrenia and other irreversible damaging disorders with all the decay that these bring to the whole community…also the article keep mentioning “adult”consumption…We all know is teenagers in huge percentage, cutting short a future of opportunities for young NMexicans…