New Mexico’s legal marijuana industry generated $47 million in sales during October, bringing the state’s total for 2025 to roughly $475 million.
Of the October total, $36.6 million came from adult-use purchases and $10.4 million from medical sales, according to data from the Cannabis Control Division. Retailers recorded 1.2 million total transactions during the month, including nearly one million recreational sales.
Since legal sales began, New Mexico’s regulated market has now surpassed $1.97 billion in total revenue — with $1.42 billion coming from adult-use sales and $562 million from medical marijuana. Consumers have made more than 44 million purchases statewide since the launch of the legal market.
New Mexico legalized recreational marijuana in April 2021 when Governor Michelle Lujan Grisham signed the Cannabis Regulation Act into law. The first licensed sales began less than a year later on April 1, 2022, making New Mexico one of the fastest states to implement a full retail system after legalization. Adults 21 and older are allowed to possess up to two ounces of marijuana, 16 grams of concentrate, and 800 milligrams of edibles, with home cultivation of up to six mature plants per adult also allowed.
Marijuana sales in New Mexico are subject to a 12% excise tax in addition to standard gross receipts taxes, with the rate scheduled to gradually rise to 18% by 2030. Revenue from the excise tax is divided between the state’s general fund and local governments.
The $475 million in cannabis sales generated in 2025 is a 7.5% increase over sales from the same period in 2024.
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