Stephen Hamway / Albuquerque Journal
Published on December 27, 2020

ALBUQUERQUE, N.M. — During a legislative session where funds are expected to be at a premium, state lawmakers may look seriously at raising revenue through a controversial source: recreational cannabis.

However, lawmakers and industry advocates disagree on just how much the industry might bring to New Mexico. Some see a potential windfall for a state looking to diversify its economy, an industry that could generate up to $800 million in sales annually.

“No other state in the entire country is better postured, better positioned to succeed at legalization than New Mexico,” said Duke Rodriguez, founder of Ultra Health, the largest chain of dispensaries in the state.

Continue reading “How much green would recreational cannabis bring?”

Jeff Smith/ MJ Biz Daily
Published on December 10, 2020

New Mexico’s medical marijuana sales have nearly doubled in the past two years despite strict plant-count limits, and the state might be better positioned to legalize recreational cannabis after neighboring Arizona did so last month.

Marijuana Business Daily projects an adult-use cannabis market in New Mexico could generate $350 million in annual store sales by its fourth year of operation.

The state’s MMJ sales, meanwhile, are rising. Fueled by the coronavirus pandemic and patient growth, sales are on pace to reach around $200 million this year.

Continue reading “New Mexico’s medical marijuana sales rise as prospects for recreational legalization improve”

Susan Montoya Bryan / Associated Press
Published on December 9,  2020

An advisory board is recommending that New Mexico clear the way for licensed medical marijuana producers to grow more plants.

Continue reading “New Mexico Panel Recommends Raising Medical Pot Plant Count”