New Mexico’s combined marijuana sales surpass $1 billion

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Combined sales of legal medical and recreational marijuana in New Mexico have set a record, surpassing $1 billion less than two years after the state launched its adult-use market.

The latest sales data from the New Mexico Regulation & Licensing Department (NMRLD) shows cumulative sales worth $1.01 billion since the state’s recreational cannabis market launched in April 2022, including:

  • $678.5 million in adult-use sales across 15.7 million transactions.
  • $331.6 million in MMJ sales across 6.5 million transactions.

The sales record includes the latest monthly cannabis transaction data from the NMRLD.

In February, the government agency tracked $35.7 million worth of adult-use sales and $12.3 million in medical sales.

The NMRLD reported 1,050 total retail cannabis outlets in New Mexico as of February.

New Mexico’s adult-use market had its best month to date in December 2023, with sales worth $37.5 million.

Tourism plays an important role in the New Mexico cannabis market, especially cross-border shoppers from neighboring Texas.

All-time recreational cannabis sales are highest in Albuquerque, New Mexico’s biggest city, with $202.5 million in adult-use marijuana sold to date.

However, the second- and third-highest cumulative recreational sales totals are in Sunland Park ($57.4 million) and Las Cruces ($45.4 million), both near El Paso, Texas.