New Mexico Hits New Sales Record With $48 Million in August

New Mexico’s cannabis market hit a new record high in August with a sales total of $48.2 million in cannabis sales, including $34.7 million in recreational and $13.5 million in medical, according to state data.

The Land of Enchantment’s sales have been inching higher nearly every month since the recreational market came online in April 2022, and the state sold more than $300 million in adult-use cannabis in its first 12 months alone.

In July, recreational sales were just over $34 million, with medical sales at $13.6 million, for a total of $47.6 million.

But medical sales have been trending slowly downward since the recreational market launched, a common theme in states that first adopt medical and then adult-use.

In April of 2022, medical marijuana sales topped $17 million, but have been hovering at or below $14 million for most of the last year.