New Mexico Sets Record in Cannabis Sales for March

LOS ANGELES- In a significant development within the cannabis industry, New Mexico reported a record-breaking total of over $52 million in combined recreational and medical cannabis sales for March. This figure surpasses previous records, marking a milestone for the state’s cannabis market.

The New Mexico Regulation & Licensing Department (NMRLD) disclosed that licensed retailers recorded more than $39 million in adult-use cannabis sales, while medical cannabis transactions accounted for an additional $13 million-plus during the month. This achievement underscores a growing consumer base and an expanding market for both recreational and medical cannabis products in the state.

Previously, the highest monthly sales were recorded in December 2023, when total cannabis transactions exceeded $50 million. This progression indicates a steady increase in cannabis sales, reflecting broader acceptance and utilization of cannabis products among New Mexico’s population.

Since the inception of the adult-use cannabis program in 2022, total cannabis sales in New Mexico have now surpassed the $1 billion threshold earlier this year, signifying a robust and flourishing cannabis industry within the state. As of February, the NMRLD reported that New Mexico hosts 1,050 retail cannabis outlets, showcasing the widespread availability and accessibility of cannabis products to meet consumer demand.

This record-setting sales figure not only highlights the economic potential of the cannabis industry in New Mexico but also signals the ongoing normalization and integration of cannabis into the state’s commercial landscape.