Cannabis Sales in New Mexico On Pace to Exceed $2B This Year 

Combined adult-use and medical cannabis sales in New Mexico are on pace to exceed $2 billion this year, according to data from the state Regulation and Licensing Department (NMRLD), which shows total cannabis sales in the state have totaled $1,932,232,139.93 since the program’s launch three years ago. 

Sales in the state were down from August (about $37.4 million) to September (about $34.3 million) but, overall, cannabis sales in the state remained steady and in line with the state’s sales trends. Adult-use cannabis sales in the state launched in April 2022. 

In September, adult-use cannabis sales represented 77.29% of sales and nearly 75% of all transactions at the state’s retailers.  

NMRLD Communications Director Andrea Brown told the El Paso Times that officials “continue to be encouraged by the business growth and success many businesses in the state have seen.”  

“The revenue generated by the regulated cannabis industry is not only beneficial for business owners but helps many small towns across New Mexico make meaningful changes to their communities through the use of the excise tax revenue.” — Brown to the Times  

The state generated more than $142 million in cannabis industry revenue during the summer months this year alone.