New Mexico Marijuana Sales Top $48 Million in July, Pushing Year-to-Date Total Past $335 Million

Of the July total, $37,120,310.54 came from adult-use sales, while medical marijuana accounted for $11,322,442.41, according to data released by the state’s Regulation and Licensing Department. Sales from January through July of this year total more than $27 million higher than the same period last year, when marijuana stores brought in $308 million. The growth continues a steady upward trend since the launch of adult-use sales in 2022.

Since the launch of recreational marijuana sales, New Mexico’s legal cannabis industry has reported $1,839,321,417.73 in total revenue. That includes $1.31 billion from adult-use sales and over $530 million in medical sales, with a combined 41.1 million transactions—31.2 million recreational and 10.6 million medical.

Albuquerque continues to lead as the state’s top marijuana market, generating over $574 million in sales. Sunland Park follows with nearly $140 million, with Las Cruces and Santa Fe close behind at $121 million and $120 million, respectively.

Adult-use marijuana became legal through the Cannabis Regulation Act signed in 2021. Adults 21 and older may purchase marijuana products and grow up to six mature plants individually or 12 per household. Recreational purchases are taxed at 12%, increasing annually until it reaches 18% in 2030, while medical marijuana remains tax-exempt.