New Mexico’s marijuana market continues to thrive, with June’s total marijuana sales passing $48 million.
According to the latest data from the New Mexico Regulation & Licensing Department, there was $48,072,161.91 in total marijuana sales in June. This month’s sales were distributed across 1,148,950 transactions.
Recreational marijuana sales contributed $36,513,095.44, while medical marijuana sales totaled $11,559,066.49. The state recorded 1,006 dispensaries actively serving customers, reflecting the robust infrastructure supporting the cannabis industry.
The cumulative sales since the legalization of marijuana in April 2022 have now reached an impressive $1,213,010,697.07 from a total of 26,073,564 transactions. This growth underscores the steady demand and acceptance of both recreational and medical marijuana in New Mexico.
Albuquerque continues to dominate in sales, followed by significant contributions from Santa Fe, Las Cruces, and Sunland Park.
New Mexico’s marijuana laws allow individuals aged 21 and older to legally purchase and possess up to two ounces of marijuana, 16 grams of marijuana extract, and 800mg of marijuana-infused edibles. The state imposes an approximate 5% tax at the point of sale, alongside a 12% excise tax specific to recreational marijuana.
As the industry expands, New Mexico’s marijuana market remains a significant contributor to the state’s economy, demonstrating the ongoing potential and growth of the legal cannabis sector.
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