Welcome Spaced Cadets! This blog will discuss the latest news in Cannabis from the past two months. There has been a lot that has happened in the industry from new states legalizing weed, rescheduling of cannabis, and new laws happening. Follow along with the multiple topics discussed to be up to date with the latest cannabis news in New Mexico.
Cannabis Sales Surpass $1 Billion
New Mexico's cannabis industry has reached a significant milestone with combined legal marijuana sales exceeding $1 billion since the launch of the adult-use market in April 2022. This includes $678.5 million from adult-use sales and $331.6 million from medical marijuana sales (MJBizDaily). Governor Michelle Lujan Grisham hailed this achievement, emphasizing the economic benefits and job creation stemming from the legalization
Federal Crackdown on Cannabis Seizures
Despite the state-level legalization, federal authorities have recently intensified actions against cannabis transportation near the U.S.-Mexico border. U.S. Customs and Border Protection (CBP) officers have seized over $300,000 worth of state-licensed cannabis at border checkpoints, leading to tensions between federal and state authorities. Governor Lujan Grisham has criticized this enforcement, arguing that it undermines state law and hampers the cannabis industry (Politico)
Senate Upholds Drive-Thru Cannabis Sales
The New Mexico Senate narrowly voted to continue allowing drive-thru cannabis sales, a provision seen as crucial for accessibility, especially for individuals with limited mobility. This decision came despite concerns over potential increases in drug-related traffic accidents. The bill, which includes other adjustments to cannabis regulations, underscores the state's commitment to maintaining flexible access to cannabis products (SourceNM)
Economic and Social Impact
Cannabis tourism has significantly contributed to the industry’s growth, particularly in border towns like Sunland Park and Las Cruces. Albuquerque remains the leading city for cannabis sales, but smaller communities are also seeing substantial economic benefits. The state's cannabis market continues to expand, with over 1,000 retail outlets and hundreds of manufacturers and micro-producers operating across New Mexico (MJBizDaily).
New Mexico has been flourishing since they legalized adult-use cannabis. We have a drive-thru at Spaced Cannabinoid Co and it does amazing because not everyone can get out of the car easily or has social anxiety to walk in. Hopefully, after a rescheduling of cannabis, the state-licensed cannabis seizures will slow down or completely stop. New Mexico will continue to expand in the cannabis industry, and we are all here watching. Subscribe for more news on cannabis in New Mexico.
Sources
Fisher, Austin. “Senate Narrowly Votes to Keep Drive-Thru Cannabis Sales • Source New Mexico.” Source New Mexico, 6 Feb. 2024, sourcenm.com/2024/02/06/senate-narrowly-votes-to-keep-drive-thru-cannabis-sales/.
Jackson, Adam. “Cronos Group Expands Growco Cannabis Joint Venture.” Green Market Report, 20 June 2024, www.greenmarketreport.com/cronos-group-expands-growco-cannabis-joint-venture/.
Press, The Associated. “North Carolina Senate Gives Initial Approval to Legalizing Medical Marijuana.” Https://Www.Foxcarolina.Com, 20 June 2024, www.foxcarolina.com/2024/06/20/north-carolina-senate-gives-initial-approval-legalizing-medical-marijuana/.
Somerset, Sara Brittany. “DEA Reportedly Set to Reschedule Cannabis to Schedule III.” Cannabis & Tech Today, 1 May 2024, cannatechtoday.com/dea-reportedly-set-to-reschedule-cannabis-to-schedule-iii/.
Staff, MJBizDaily. “New Mexico’s Combined Marijuana Sales Surpass $1 Billion.” MJBizDaily, 5 Mar. 2024, mjbizdaily.com/new-mexico-combined-medical-recreational-marijuana-sales-surpass-1-billion/.
Dispatch, Canna. “April 24.” April 2024 CannaDispatch | Cannabis Regulation, 2 Apr. 2024, cannabis.lacity.gov/articles/april-2024-cannadispatch.
Fertig, Natalie. ‘Seize All Cannabis’: Inside the Surprising Federal Crackdown on New Mexico Weed Farmers - Politico, 1 May 2024, www.politico.com/news/2024/05/01/federal-crackdown-new-mexico-weed-farmers-00155624.
Jackson, Adam. “Cannabis Rescheduling Faces Uphill Battle, but DEA Decision Expected Soon.” Green Market Report, 1 Feb. 2024,
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