There is current legislation pending in New Mexico that would bring retail cannabis sales to the region by as early as April 2022. That bill hasn't been signed into law yet but lawmakers are moving ahead with making plans regardless.
They've moved to set up a website that offers information about the proposed cannabis changes. This includes a timeline for when an advisory board might be established for the issue.
New Mexico makes one more region that is looking to legalize recreational cannabis so that those over the age of 21 will be able to consume. Those changes have not been formalized yet though.
The governor of NM however has previously made it known that she is committed to legalizing cannabis in the state.
The adult cannabis use market in New Mexico could bring hundreds of millions of dollars in annual sales.
They've already seen growing success with a medicinal cannabis program and there is great potential to see significant revenue come in from the recreational market as well.
There aren't that many producers in the state though, only a handful of producers account for almost half of the sales in the state for cannabis patients.
They might have gained more producers in recent years but still it shouldn't be a small group deciding how many the market needs, the market and those supporting the products are who should decide by voting with their dollars.
Still Plenty of Control in Cannabis Markets
Legalization can often bring arguably corrupt and rigid restrictions that keep many individuals from pursuing equal and fair business endeavors.
There can also be excessive costs placed on products for patients too when there are such limited options for producers that can offer the product to the market. As well as excessive add-ons that the state puts for cannabis products, sometimes adding more than 20 percent to the cost for patients.
New Mexico is going to join with other areas now like New York and more who are finally eroding cannabis stigmas and bringing in legalization, which is celebrated by many even if it is still a choked market.