Projections vary on how much legal recreational cannabis sales will help New Mexico


That report notes, “revenue expectations remain uncertain,” analysis with which University of New Mexico economics professor Sarah Stith agrees – and she stays on top of industry trends and studies.

“I think it’s difficult to put a specific number on it. I think the states that have legalized cannabis, they have seen a lot of money come in, so I think this is not going to be something we don’t notice as a state,” Stith said.

Those figures are still less than 1 percent of our state’s budget.

“There is a limit to how much revenue this can bring to the state,” Stith said. “There’s also, of course, the limits placed on it by the illicit market, home cultivation and by Colorado.”

Stith says New Mexico can learn a lot from other states. Data shows many Texans have been driving up to southern Colorado to buy pot there, and studies show many people began using cannabis instead of other drugs – replacing sleep aids, opioids and alcohol.

Stith says by the end of this summer New Mexico should have a good sense of how recreational sales are going.

This comes amid talk of a marijuana shortage.

There are conflicting estimates. State officials say there will be plenty of plants, but some industry insiders are worried we may run out temporarily – in just a few months.

“We’re a little apprehensive about the supply and demand. We think that patients are more than likely going to face some shortages for a while,” Organtica founder David White said.

A major concern for retailers is keeping enough products on their shelves for medical marijauna patients.