MJBizMag May-June 2022 - 28

INDUSTRY DEVELOPMENTS State by State
New Mexico
Adult-use marijuana sales launched April 1 and totaled more than
$3.52 million during the first three days, according to figures the New Mexico
Regulation and Licensing Department (NMRLD) provided to MJBizDaily. The
NMRLD reported 57,890 transactions for adult-use marijuana during the
three-day period and 29,883 medical marijuana transactions over the same
time. The 2022 MJBiz Factbook projects annual adult-use cannabis sales
worth as much as $125 million for New Mexico this year.
New York
State regulators approved the first round of recreational cannabis cultivation
licenses, issuing 52 permits to local hemp farmers under a new law aimed at
ensuring adequate marijuana supplies for the state's impending adult-use
market. The permits are intended to accelerate the cultivation and processing
of recreational marijuana to avoid lengthy delays and shortages. The licenses
also are aimed at boosting diversity within the industry, with hemp farmers
getting an early opportunity to enter the adult-use market. Companies
that received the permits may start growing marijuana outdoors or in a
greenhouse with up to 20 supplemental lights. Conditional license winners
are required to apply for full permits by June 1. The provisional licenses
expire June 30, 2024.
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MJBizMag May-June 2022

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