September cannabis sales in New Mexico reached $44.3 million, with adult-use accounting for $34.2 billion of the total, according to the state’s Cannabis Control Division.
Adult-use marijuana sales are expected to hit $530 million this year, according to MJBiz FactBook.
The state is on track to reach a milestone in cannabis sales, with total revenue from medical and adult-use marijuana expected to surpass $2 billion since New Mexico’s recreational program launched in 2022 by the end of the year.
Combined sales have reached $1.9 billion since recreational cannabis was legalized, according to a KRQE News analysis of data from the state’s Cannabis Control Division.
Adult-use cannabis has been the primary driver of the growth, accounting for about $1.3 billion in sales. Medical cannabis sales have contributed $554 million to the total.
Albuquerque leads the state in total cannabis sales, followed by Sunland Park and Las Cruces.
To hit the $2 billion mark, New Mexico needs an additional $68 million in sales.
With average monthly sales from January through September are hovering around $47 million, the state is well-positioned to achieve the milestone by year-end.
As of last December, New Mexico had a total of 3,071 approved adult-use cannabis business licenses.
