Licensed marijuana retailers in New Mexico sold nearly $50 million worth of products in July, bringing the state’s combined medical and adult-use sales total for 2026 to approximately $335 million.

According to data from the New Mexico Cannabis Control Division, retailers reported $49,814,500.78 in total sales during July. That included $39,591,627.45 in adult-use sales, setting a new monthly record for the state, and $10,222,873.30 in medical marijuana sales.

Retailers completed 1,256,210 transactions during the month, including 1,047,035 adult-use transactions and 209,175 medical transactions.

New Mexico’s legal marijuana market has now generated more than $2.406 billion in all-time sales. Adult-use purchases account for more than $1.752 billion of that amount, according to the state’s Cannabis Reporting Online Portal.

New Mexico Governor Michelle Lujan Grisham signed the Cannabis Regulation Act on April 12, 2021, with possession and personal cultivation becoming legal for adults 21 and older on June 29 of that year. The state’s first licensed adult-use marijuana stores opened April 1, 2022.

Adults may possess up to two ounces of marijuana, 16 grams of marijuana concentrate and edible products containing up to 800 milligrams of THC outside their residence. Possession at home is unlimited as long as the marijuana is stored outside public view.

Adult-use marijuana purchases are subject to a statewide cannabis excise tax of 14%, an increase from 13% that took effect July 1. Purchases are also subject to gross receipts taxes, with rates varying by location. Medical marijuana sales are exempt from the cannabis excise tax and qualify for a gross receipts tax deduction.