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.
