New Mexico officers are celebrating a brand new milestone for the state’s marijuana trade, with retailers hitting recording greater than $1 billion in whole gross sales for the reason that launch of the state’s adult-use hashish market.
February’s gross sales totals included greater than $35 million in adult-use purchases—the second-highest month-to-month quantity on file, in accordance with figures from the New Mexico Regulation and Licensing Division’s Hashish Management Division. The state’s medical marijuana market, in the meantime, recorded over $12 million in gross sales.
With these additions, the cumulative quantity offered within the state reached $1.01 billion. That features each medical and adult-use hashish receipts going again to April 2022, when the leisure market opened for enterprise. The state doesn’t publish medical hashish dispensary gross sales knowledge previous to that date.
“It is a big milestone for New Mexico’s hashish trade,” Regulation and Licensing Division Superintendent Clay Bailey informed Marijuana Second on Monday. “Shoppers have confirmed that they help this trade and the companies which have labored exhausting to place our state on the map on the subject of authorized, regulated hashish gross sales.”
Common transaction costs in February had been $41.99 for adult-use purchases and $51.96 for medical marijuana consumers. The medical quantity is increased than at any level since April 2023.
The highest 5 cities for adult-use gross sales had been Albuquerque, Sunland Park, Las Cruces, Santa Fe and Hobbs. When it comes to medical marijuana, the highest 5 had been Albuquerque, Santa Fe, Las Cruces, Rio Rancho and Alamogordo.
Measured one other method, New Mexico offered greater than a half-billion-dollars’ value of marijuana throughout the first full calendar 12 months of the adult-use market when figures from medical sales had been included.
In the meantime, the governor of stated final month that she “endorses” a newly enacted decision requesting that state officers analysis the therapeutic potential of psilocybin and discover the creation of a regulatory framework to supply entry to the psychedelic.
Earlier within the month, the Senate had unanimously handed the measure from Senate Minority Whip Craig Brandt (R) and Sen. Jeff Steinborn (D).
Michael Coleman, director of communication Gov. Michelle Lujan Grisham’s (D) workplace, stated the governor “typically helps progressive and accountable analysis and remedy to deal with despair, habit, post-traumatic stress dysfunction and different psychological well being challenges.”
The Senate passage of the psychedelics decision comes one 12 months after the Home Well being and Human Providers Committee accepted an analogous invoice that referred to as for the creation of a state physique to review the potential for launching a psilocybin remedy program for sure sufferers. That measure didn’t advance additional within the 2023 session, nonetheless.
Final 12 months the state Senate additionally voted to let drive-through marijuana shops stay open. A proposal by the physique’s Judiciary Committee would have prohibited gross sales of hashish by means of a drive-thru window.