420 with CNW — Could Cannabis Legalization in New Mexico Hurt Nearby Colorado?

May 5, 2021 15:25:26

As more states legalize cannabis, the pioneers who launched the first state-legal cannabis sectors in the country may soon see their profits drop due to increasing competition. Colorado, for instance, has had a fantastic run so far. Its recreational cannabis industry has raked in nearly $10 billion dollars and filled the state’s coffers with billions of dollars in cannabis taxes. However, now that next door neighbor New Mexico has legalized recreational marijuana, some cannabis operators in Colorado fear their profit margins will start thinning once New Mexico launches its cannabis industry in 2022.

Colorado launched recreational cannabis sales in 2014, and since then, the state’s cannabis industry has been on fire. Not only has it earned business owners and the state billions of dollars, but it has also helped boost tourism numbers through “cannabis tourism.” Folks from around the country come to Colorado to sample the state’s cannabis products, and some dispensaries in border towns and cities such as Trinidad…


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