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Legal marijuana sales to adults in New Mexico exceed $300 million in the first year

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New Mexico’s adult-use regulated marijuana market turned one year old on April 1, with first-year recreational sales totaling nearly $301 million.

Recreational cannabis sales in the state for the month of March have reached A monthly record high of $32.4 millionaccording to data from the Cannabis Control Division (CCD) of the New Mexico Department of Regulation and Licensing.


In just one year, Hundreds of millions of dollars “Economic activity has been established in communities across the state, the number of businesses continues to increase, and thousands of New Mexicans are employed in this new industry,” New Mexico Gov. Michel Lujan Grisham said in a press release.

New Mexico issued nearly 2,000 commercial marijuana licenses in one year, the governor’s office said, “including 633 cannabis retailers, 351 producers, 415 small producers, and 507 plants.”

The statement also noted that “as of March 2023, more than $27 million in cannabis tax

Read the full article at Marijuana Business Daily

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